|By PR Newswire||
|January 31, 2014 01:30 AM EST||
MOUNTAIN VIEW, Calif., Jan. 31, 2014 /PRNewswire/ -- Edison Pharmaceuticals today announced that it has entered into a strategic alliance valued up to $4.295 billion with Dainippon Sumitomo Pharma Co., Ltd. (DSP) for the development of drugs targeting cellular energy metabolism. Under the terms of the agreement, DSP will gain select development and commercialization rights in Japan and North America to jointly discovered drugs in exchange for $10M upfront and $40M payment in R&D support. In addition, DSP will fully fund the development of 10 new jointly discovered drugs through IND filing and broaden its rights to EPI-589, currently in phase 1B, to include North America. In exchange, Edison will be eligible to receive in total between $30M and $105M per indication associated with successful development of EPI-589 in North America; between $10M and $30M per indication in development milestones associated with successful development of jointly discovered compounds in Japan and North America; up to $3.86 billion in commercial milestone payments for jointly discovered compounds and EPI-589 in total; and double-digit royalties on commercial sales. DSP will also invest $50M in Edison through a preferred stock purchase agreement. At the discretion of Edison, DSP shall invest an additional $50M in the period between the first and fifth anniversaries of the initial equity closing.
Building on the March 2013 Edison/DSP collaboration agreement, the primary clinical focus of the partnership is the adult central nervous system. Under the terms of the expanded alliance agreement, DSP will gain access to three jointly discovered compounds and fully fund their development in Japan and North America. Edison will retain rights to these compounds outside of Japan and North America. Edison will have worldwide rights to up to seven jointly discovered compounds, which DSP will fund through IND filing. In addition, DSP will broaden its rights to EPI-589 to include North America. Edison will retain 100% ownership of its drug EPI-743, and it will continue to direct all research, clinical development, and commercial development outside of Japan.
The research and development program is directed at the characterization of the redox control energy system critical to the generation and regulation of cellular energy metabolism. The parties believe that the cellular redox "network" is an untapped reservoir of new drug targets, especially for high energy-consuming organs such as the brain. DSP and Edison will work together under a novel collaborative framework to discover, characterize, and translate drugs into clinical development.
"The broadening of our partnership with Edison reflects the success we have had to date in our current collaborative development programs. Compelling data suggest that the mitochondria and redox regulation play a central role in a variety of disease mechanisms," stated Hiroshi Noguchi, PhD, Chief Scientific Officer and Member, Board of Directors of DSP. He further stated, "As Edison is a leader in redox drug development, we see the highly integrated alliance structure as a way to bring our companies closer together in order to leverage our mutual strengths, make new and important discoveries, and bring valuable new drugs to the marketplace for critical diseases with unmet medical need."
The term redox refers to a set of chemical reactions involving the tandem accepting and donating of electrons. Redox biochemical and enzyme-catalyzed reactions underlie the vast majority of the chemistry responsible for the generation of energy within the cellular powerhouse, the mitochondrion. In addition, redox reactions play a critical role in the regulation of energy metabolism. Edison's initial clinical focus is on a set of pediatric diseases where there are unambiguous genetic alterations in mitochondrial proteins responsible for energy generation and regulation. These rare (orphan) diseases are collectively referred to as inherited respiratory chain diseases of the mitochondria. They form the basis of Edison's initial drug development efforts; the breadth of Edison's proprietary technology platform extends well beyond these conditions.
Inherited pediatric mitochondrial disease and a variety of adult neurodegenerative diseases may arise through analogous genetic errors in mitochondrial proteins, giving rise to common biochemical consequences. For example, in the case of Parkinson's disease, a variety of inherited forms of the disease are caused by defects in proteins associated with mitochondrial function. Additionally, both pediatric mitochondrial diseases and adult neurodegenerative diseases display a common biochemical signature of excess electrons. This is commonly referred to as oxidative stress. Edison is leveraging its core expertise in redox biochemistry and its proprietary technology platform to develop novel drugs targeting redox pathways common to pediatric mitochondrial disease and adult neurodegenerative diseases, as well as fundamental aging mechanisms.
"Our partnership with DSP codifies a common vision for developing drugs targeting unmet medical needs. We will be able to grow and explore a frontier of science through a collaborative and iterative learning process," stated Guy Miller, MD, PhD, Chairman, CEO, Edison Pharmaceuticals, Inc. "Resources committed by DSP to the partnership will accelerate our first-mover advantage in redox drug development. This will allow us together to expand Edison's pipeline, bringing 10 new compounds into clinical development over the next five years. In addition, the DSP investment will allow Edison to build its commercial enterprise in pediatric medicines. This will start with EPI-743, Edison's drug candidate currently in phase 2 development for a variety of inherited rare (orphan) pediatric mitochondrial diseases."
Edison Pharmaceuticals received financial advisory services on the transaction from J.P. Morgan Securities LLC and Barclays, and legal counsel from Morrison & Foerster, LLP.
Edison Pharmaceuticals is a specialty pharmaceutical company dedicated to developing treatments for children and adults with orphan mitochondrial diseases. EPI-743 is in phase 2 clinical development for the treatment of inherited respiratory chain disorders. Double-blind placebo-controlled trials are ongoing for the following indications: Leigh syndrome, Friedreich's ataxia, Cobalamin C defect, and Undiagnosed Disorders of Oxidation-Reduction.
Dainippon Sumitomo Pharma Co., Ltd.
Dainippon Sumitomo Pharma Co., Ltd. (DSP) is a multi-billion dollar, top-ten listed pharmaceutical company in Japan with a diverse portfolio of pharmaceutical products. DSP aims to produce innovative pharmaceutical products in the psychiatry and neurology, which is designated as a key therapeutic area, as well as oncology. DSP has about 7,000 employees worldwide. Additional information about DSP is available through its corporate website at www.ds-pharma.com.
SOURCE Edison Pharmaceuticals, Inc.
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
May. 6, 2016 09:00 AM EDT Reads: 795
The demand for organizations to expand their infrastructure to multiple IT environments like the cloud, on-premise, mobile, bring your own device (BYOD) and the Internet of Things (IoT) continues to grow. As this hybrid infrastructure increases, the challenge to monitor the security of these systems increases in volume and complexity. In his session at 18th Cloud Expo, Stephen Coty, Chief Security Evangelist at Alert Logic, will show how properly configured and managed security architecture can...
May. 6, 2016 08:45 AM EDT Reads: 643
Many private cloud projects were built to deliver self-service access to development and test resources. While those clouds delivered faster access to resources, they lacked visibility, control and security needed for production deployments. In their session at 18th Cloud Expo, Steve Anderson, Product Manager at BMC Software, and Rick Lefort, Principal Technical Marketing Consultant at BMC Software, will discuss how a cloud designed for production operations not only helps accelerate developer...
May. 6, 2016 08:00 AM EDT Reads: 1,391
SYS-CON Events announced today the Docker Meets Kubernetes – Intro into the Kubernetes World, being held June 9, 2016, in conjunction with 18th Cloud Expo | @ThingsExpo, at the Javits Center in New York, NY. Register for 'Docker Meets Kubernetes Workshop' Here! This workshop led by Sebastian Scheele, co-founder of Loodse, introduces participants to Kubernetes (container orchestration). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, participants learn ...
May. 6, 2016 07:45 AM EDT Reads: 587
Much of the value of DevOps comes from a (renewed) focus on measurement, sharing, and continuous feedback loops. In increasingly complex DevOps workflows and environments, and especially in larger, regulated, or more crystallized organizations, these core concepts become even more critical. In his session at @DevOpsSummit at 18th Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, will show how, by focusing on 'metrics that matter,' you can provide objective, transparent, and meaningfu...
May. 6, 2016 07:00 AM EDT Reads: 1,225
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
May. 6, 2016 07:00 AM EDT Reads: 1,073
Artificial Intelligence has the potential to massively disrupt IoT. In his session at 18th Cloud Expo, AJ Abdallat, CEO of Beyond AI, will discuss what the five main drivers are in Artificial Intelligence that could shape the future of the Internet of Things. AJ Abdallat is CEO of Beyond AI. He has over 20 years of management experience in the fields of artificial intelligence, sensors, instruments, devices and software for telecommunications, life sciences, environmental monitoring, process...
May. 6, 2016 06:00 AM EDT Reads: 1,520
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
May. 6, 2016 04:00 AM EDT Reads: 1,343
Redis is not only the fastest database, but it has become the most popular among the new wave of applications running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 18th Cloud Expo, Dave Nielsen, Developer Relations at Redis Labs, will shares the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
May. 6, 2016 02:45 AM EDT Reads: 1,315
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
May. 6, 2016 02:00 AM EDT Reads: 1,428
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, will discuss how leveraging the Industrial Interne...
May. 6, 2016 01:45 AM EDT Reads: 1,438
In his session at 18th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., will focus on real world deployments of DDoS mitigation strategies in every layer of the network. He will give an overview of methods to prevent these attacks and best practices on how to provide protection in complex cloud platforms. He will also outline what we have found in our experience managing and running thousands of Linux and Unix managed service platforms and what specifically c...
May. 6, 2016 01:30 AM EDT Reads: 1,406
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
May. 6, 2016 01:00 AM EDT Reads: 1,271
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
May. 6, 2016 12:00 AM EDT Reads: 1,492
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
May. 5, 2016 11:30 PM EDT Reads: 1,381