Home Medicinal chemistry Eurobio Scientific receives $ 430,000 milestone payment from Allergan

Eurobio Scientific receives $ 430,000 milestone payment from Allergan

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SCIENTIFIC EUROBIO RECEIVES A $430, 000 ALLERGAN STEP PAYMENT

Transition to the clinical stage of a molecule resulting from the former collaboration

Paris, October 6, 20218:00 am

Scientific Eurobio (FR0013240934, ALERS, eligible for PEA-PME), leading French group in the field of the specialty in vitro diagnostics, today announces that Allergan (now AbbVie) has received a milestone payment of US $ 430,000 as part of an IND submission to the US FDA for the clinical phase-out of the AGN-231868 molecule in the treatment of dry eye syndrome.

A valuable therapeutic asset

As part of the former collaboration between the two companies, Eurobio Scientific’s genomic profiling technology has been used to identify potential targets for therapeutic treatments in the field of ophthalmology. On the basis of the positive results obtained, Allergan undertook a development of medicinal chemistry which allowed the identification of new molecules, including one with promising potential for the treatment of dry eye syndrome. The main compound resulting from this development has demonstrated interesting biological properties in multiple preclinical ocular models, and a sufficient safety profile to proceed to the following stages of development.

As provided for in the collaboration agreement, a milestone payment of US $ 500,000 less half of the patent fees was paid to Eurobio Scientific by Allergan when the IND application was filed with the FDA.

During the clinical development of AGN-231868, Eurobio Scientific remains eligible for further milestone payments related to successful transitions to other clinical milestones. If the molecule obtains marketing authorization, the company will also receive milestone payments and will be eligible for royalty payments on future sales.

Hervé Duchesne de Lamotte, Deputy Managing Director of Eurobio Scientific, declares: Eurobio Scientific’s therapeutic program continues thanks to its long-standing partner Allergan. This IND is a good indication of the value of our therapeutic active ingredients which also include molecules under development in oncology by Felicitex, an American biotechnology company.
I would like to thank Allergan Research and development team that continued to advance this program with the full support of his management, and look forward to successful development of this therapeutic active under the new AbbVie entity. concludes Denis Fortier, Deputy CEO of Eurobio Scientific.

Next financial meeting
Half-year results 2021: October 12, 2021, after market close

Disclaimer

This press release contains items that are not historical facts, including, without limitation, certain statements regarding future expectations and other forward-looking statements. These statements are based on the current opinions and assumptions of management and involve known and unknown risks and uncertainties that could lead to actual results, profitability or events differ materially from those anticipated. Besides, Eurobio Scientific, its shareholders and affiliates, directors, officers, advisers and employees have not verified the accuracy of any statistical data or predictions contained in this press release which have been taken or derived from third party sources or industry publications, and make no representations or warranties regarding such data. . These statistical data and forecasts are used in this press release for informational purposes only. Finally, this press release may be written in French and English. If the two versions are interpreted differently, the French language version will prevail.

Afight Eurobio Scientist

Eurobio Scientific is a key player in the field of specialty in vitro diagnostics. It is involved from research to manufacturing and marketing of diagnostic tests in the fields of transplantation, immunology and infectious diseases, and sells instruments and products for research laboratories, including corporations. biotechnology and pharmaceuticals. Through numerous partnerships and a strong presence in hospitals, Eurobio Scientific has set up its own distribution network and a portfolio of proprietary products in the field of molecular biology. The Group has around 148 employees and three production units based in the Paris region, in Germany and in the United States, and several subsidiaries based in Dorking UK, Sissach Switzerland, Bünde Germany and Utrecht in the Netherlands.

For more information, please visit: www.eurobio-scientist.com

The company is listed on the Euronext Growth market in Paris
Euronext Growth BPI Innovation, PEA-PME 150 and Next Biotech indices, Euronext European Rising Tech label.
Symbol: ALERS – ISIN code: FR0013240934 – Reuters: ALERS.PA – Bloomberg: ALERS: FP

Contacts

Group Eurobio Scientist
Denis Fortier, general manager
Hervé Duchesne de Lamotte, Chief Executive Officer
Phone. +33 (0) 1 69 79 64 80

calyptus
Mathieu Calleux / Grégory Bosson
Investor relations
Phone. +33 (1) 53 65 68 68 [email protected]

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