AlgiPharma Announces $4 Million Award from Cystic Fibrosis Foundation Therapeutics to Advance Clinical Development of OligoG
Sandvika, Norway, June 3, 2016. AlgiPharma AS today announced an agreement with Cystic Fibrosis Foundation Therapeutics Inc. (CFFT), Bethesda, Md., to help fund the development of its inhalable dry powder, OligoG, which has been shown to improve the properties of mucus from the CF lungs and the effectiveness of some antibiotics in early research studies. Research to date suggests that OligoG will help people with cystic fibrosis clear mucus from their lungs and potentially slow the progression of the disease.
To expedite development of OligoG for people with cystic fibrosis, CFFT committed more than $4 million to AlgiPharma. This is in addition to almost $6.9 million that CFFT has awarded so far for a Phase 2 clinical trial, bringing CFFT’s commitment to nearly $11 million.
CFFT is the nonprofit drug discovery and development arm of the Cystic Fibrosis Foundation.
AlgiPharma is currently in Phase 2 clinical trials with OligoG as a dry powder for inhalation. Two clinical trials are ongoing in Europe (recruiting in UK, Germany, Sweden, Denmark and Norway) evaluating the safety and tolerability of OligoG, and include primary endpoints to assess efficacy in individuals with CF.
OligoG works to return thick, sticky mucus toward normal, allowing it to be cleared more easily from the lungs. OligoG also may disrupt the infectious biofilm often present in the lungs of individuals with CF. Biofilm disruption might also improve antibiotic effectiveness by increasing exposure of bacteria to antibiotics.
Yngvar P. Berg, CEO of AlgiPharma, commented on the award: “We are honored and delighted that Cystic Fibrosis Foundation Therapeutics recognizes the unique therapeutic potential of our drug candidate by further supporting the development of OligoG. This CFFT award enables us to accelerate the clinical development of OligoG, and we really appreciate working with CFFT on the remaining clinical development path in bringing this new drug to people with cystic fibrosis.”
About Cystic Fibrosis:
Cystic fibrosis (CF) is a life-threatening disease that affects the lungs and digestive system and impacts about 70,000 people worldwide. CF is caused by mutations in the cystic fibrosis transmembrane conductance regulator (CFTR) gene which results in either no CFTR protein or an abnormal CFTR protein that does not function properly. The presence or absence of this dysfunctional protein causes the body to accumulate excessive levels of unusually thick mucus in the lungs. This excessive sticky mucus in the lungs becomes a site for infections that can require hospitalization. Respiratory distress in CF — defined as acute difficulty in breathing, infection and/or hospitalization — is most commonly related to mucus accumulation and lung infections that result in damage to lung tissue.
For more information on CF, please visit www.cff.org.
About AlgiPharma AS:
AlgiPharma AS is a clinical stage pharmaceutical company, based on research and development carried out by FMC BioPolymer AS and the Biopolymer Foundation at the Norwegian University of Science and Technology in Trondheim, Norway, over decades. AlgiPharma was founded in August 2006.
AlgiPharma’s aim is to address unmet medical needs, fighting diseases effectively through its innovative alginate oligomer technologies, by developing products and therapies to market or license to suitable partners.
AlgiPharma AS owns or licenses all relevant patents upon which the technology platform and products are developed.
AlgiPharma AS is supported by national and international research programs, and collaborates with a network of key opinion leaders, highly recognized academic institutions, research and patient organizations in Europe and USA.
AlgiPharma AS is a privately owned company registered and domiciled in Norway. For additional information, please visit www.algipharma.com
Yngvar P. Berg, CEO: +47 67545770, firstname.lastname@example.org
June 3rd 2016
A pdf of this press release can be found here: AlgiPharma press release June 3, 2016
A Norwegian version of this press release can be found here: AlgiPharma press release June 3, 2016 Norwegian
The CFFT press release can be found here: CFFT press release June 3, 2016.