HANGZHOU, China, February 9, 2021 (GLOBE NEWSWIRE) – Hangzhou Chance Pharmaceuticals (“Chance”), a clinical-stage biotechnology company focused on the discovery, development and commercialization of transformative inhalation therapies for the world’s weakest diseases and Aerami Therapeutics, Inc. (“Aerami”), a clinical-stage biopharmaceutical company developing inhalation therapies for the treatment of severe respiratory and chronic illnesses, announced today that it has an exclusive license and development agreement to develop and commercialize the Aerami drug combination product candidate (” AER “) has signed -901”) for the treatment of Pulmonary Arterial Hypertension (“PAH”) in the Greater China Region (Mainland, Hong Kong, Macau and Taiwan).
Under the terms of the license and collaboration agreement, Chance will be responsible for the overall development and commercialization of AER-901 for PAH in the licensed area. Aerami will conduct its own PAH clinical development program for AER-901 in the United States and other areas under a worldwide license from Vectura Group plc [LSE: VEC] To develop and commercialize imatinib for the treatment of PAHs. Aerami’s program uses Vectura’s commercially available FOX® device to deliver imatinib, a tyrosine kinase inhibitor targeting PDGF-Rs, c-ΚΙΤ and BCR-ABL, directly to the lungs. Aerami is targeting the results of the Phase 1 clinical trial for VRE-901 by the end of 2021 and the start of a PAH pivotal study in early 2022.
Aerami receives an upfront license fee and is eligible to receive payments for development and commercial milestones. Aerami delivers the product to Chance at an agreed transfer price and receives a high single-digit license fee for net sales. Chance will be responsible for conducting and funding local clinical studies required to gain marketing authorization in China.
“The external collaboration is an essential part of our corporate strategy to establish Chance as a leading company for inhalation therapies. Chance aims to develop innovative and groundbreaking therapies for patients in China and the rest of the world. This collaboration expands our pipeline to include PAH, a disease with a very poor prognosis, despite tremendous advances over the past decade. We believe the inhalation delivery can avoid the side effects of oral imatinib and we are very excited to develop this innovative therapy for PAH patients in the Greater China region, ”commented Donghao Chen, founder and CEO of Hangzhou Chance Pharmaceuticals.
Steve Thornton, Chief Executive Officer of Aerami, commented: “We are very excited to be working with Chance on this important product in China and see this as further validation of our approach to drug combination for this terrible disease. We believe that AER-901 has the potential to improve the quality of life of PAH patients based on the significant efficacy demonstrated in a proof-of-concept phase 3 study of oral imatinib. ”
PAH is a devastating disease for which there is no cure. The disease causes blood vessels in the lungs to narrow, block, or destroy. The damage slows blood flow in the lungs and increases blood pressure in the pulmonary arteries. Over time, the heart has to work harder to pump blood to the lungs, which eventually leads to the heart muscle becoming weak and failing. Despite several products used to treat the symptoms of PAH, it remains a deadly disease with significant unmet needs.
The inhaled benefit
Although oral imatinib showed a statistically significant improvement in pulmonary hemodynamics and exercise capacity in PAH patients in a phase 3 study, the indication was discontinued due to the significant adverse events observed in this clinical study. By delivering an inhaled imatinib directly to the disease site, Chance and Aerami believe that AER-901 can significantly reduce the dose required to achieve therapeutic benefits and avoid the significant adverse events seen with oral imatinib.
About Aerami Therapeutics
A clinical stage biopharmaceutical company developing inhalation therapies for the treatment of severe respiratory and chronic illness. For more information, please visit www.aerami.com
over Hangzhou Chance Pharmaceuticals Co. Ltd..
Chance Pharmaceuticals is a clinical-stage biotechnology company focused on the discovery, development and commercialization of transformative inhalation therapies for the world’s weakest diseases. For more information, please visit http://www.chancepharmaceuticals.com/
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” regarding the development and commercialization of product candidates, in-licensing agreements, the timing of clinical trials, the company’s business development efforts, and expectations of its prospects. Forward-looking statements are subject to risks, assumptions, and uncertainties that could cause actual future events or results to differ materially from such statements, including the ability to obtain funding to support planned clinical activities. These statements speak as of the date of this press release. Actual results may vary. Chance assumes no obligation to update forward-looking statements for any reason.
Hangzhou Chance Pharmaceuticals
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