Colby and MannKind Sign License and Joint Development Agreement to Develop and Commercialize Cancer Immunotherapy Products
SAN JOSE, Calif. & VALENCIA, Calif.--(BUSINESS WIRE)--Nov. 13, 2012--
Colby Pharmaceutical Company and MannKind Corporation (Nasdaq: MNKD)
today announced a license agreement granting Colby exclusive worldwide
rights to develop and commercialize disease-specific antigen compounds
and intra-lymph node delivery technologies from MannKind’s novel MKC1106
active immunotherapy programs, which are currently being developed for
the treatment of melanoma, prostate, hematological disorders and other
human cancers.
Intra-lymph node injections (ILNI, vaccine inoculation directly into the
normal lymph node with ultrasound image guided standard syringes) of
cancer vaccine antigens have been reproducibly shown to generate much
more potent therapeutic T-cell responses, when compared to cancer
vaccine antigen immunizations using traditional intra-muscular or
sub-cutaneous injections of the same cancer vaccine antigens in animals.
In a Phase 1 human melanoma study of MKC1106-MT, the most advanced ILNI
regimen from this program, repeat intra-lymph nodal injection for
administration of the therapeutic antigens was well-tolerated and
generated strong immune responses, clearly meeting the primary endpoints.
Under the terms of the agreement, Colby will pay MannKind upfront and
milestone payments linked to the development, approval and
commercialization of products, with upfront and potential milestone
payments of approximately $140 million total. MannKind will also receive
tiered royalties on sales of products.
“We are very keen on this opportunity and in continuing to work with the
experienced drug development team at MannKind,” said David Zarling,
Ph.D., MBA, Chief Executive Officer of Colby. “MannKind has amassed an
extensive and thorough active immunotherapy patent portfolio. We fully
appreciate and understand that ILNI generates remarkably superior immune
responses that also can be adjuvanted, and our organizations share a
passion to advance the current MKC1106 clinical melanoma, prostate and
other programs. We will also evaluate ILNI for potential synergy with
our lead adjuvant, JVRS-100, a cationic lipid-based immune activator of
both innate and adaptive immunity. ILNI and JVRS-100 both represent
compelling new therapeutic approaches. We have good reason to believe
that our collaboration will uncover other more optimal cancer vaccine
modalities and synergies with novel adjuvants not yet realized by others
working on cancer vaccines and immune activation. We believe that
MannKind’s ILNI and our new immune activators, like JVRS-100 or
JVRS-200, or other adjuvants, will prove to be important for rational
cancer immunotherapies.”
About Colby Pharmaceutical Company
Colby is a privately held company located at 5941 Optical Court, San
Jose, CA 95138. Colby is developing new oral small molecule signal
transduction modulator drugs and immune modulator biopharmaceuticals for
cancer, chronic inflammation, pain, infectious diseases, and
neurodegenerative or metabolic diseases. Colby is going after the
indications for the very sick patients for which there are such poor
alternatives – i.e., melanoma, acute myelogenous leukemia, cancer
radio-chemo-mitigation or mucositis, and cancer patient vaccination by
ILNI. Colby's lead small molecule and biologic drug candidates are new
molecular entities which have unique mechanisms of action and are in
newly discovered pathways for molecular targeted therapies to treat or
cure patients with hard to treat infections, inflammation, malignancies
and pain, with minimal toxicities and side effects. The company
encourages inquiries to dzarling@colbypharmaceuticals.com
regarding potential investment, partnering, and/or licensing
opportunities
About MannKind Corporation
MannKind Corporation (Nasdaq: MNKD) focuses on the discovery,
development and commercialization of therapeutic products for patients
with diseases such as diabetes and cancer. Its lead product candidate,
AFREZZA®, is in late stage clinical investigation for the treatment of
adults with type 1 or type 2 diabetes for the control of hyperglycemia.
MannKind maintains a website at http://www.mannkindcorp.com
to which MannKind regularly posts copies of its press releases as well
as additional information about MannKind. Interested persons can
subscribe on the MannKind website to e-mail alerts that are sent
automatically when MannKind issues press releases, files its reports
with the Securities and Exchange Commission or posts certain other
information to the website.
This press release contains forward-looking statements, including
statements regarding our expectations and beliefs regarding the license
agreement with Colby, which involve risks and uncertainties. Words such
as “believes,” “anticipates,” “plans,” “expects,” “intends,” “will,”
“goal,” “potential” and similar expressions are intended to identify
forward-looking statements. These forward-looking statements are based
upon our current expectations. Actual results and the timing of events
could differ materially from those anticipated in such forward-looking
statements as a result of these risks and uncertainties, which include,
without limitation, risks regarding reliance on Colby to develop and
commercialize immunotherapy products, including risks that Colby may not
devote sufficient efforts to those activities, whether due to lack
adequate financial or other resources, a strategic decision to focus on
other initiatives or otherwise, and risks that the agreement with Colby
may be terminated, as well as risks associated with the progress, timing
and results of clinical trials, difficulties or delays in seeking or
obtaining regulatory approval, competition from other pharmaceutical or
biotechnology companies, and other risks detailed in our filings with
the Securities and Exchange Commission, including its annual report on
Form 10-K for the year ended December 31, 2011. You are cautioned not to
place undue reliance on these forward-looking statements, which speak
only as of the date of this press release. All forward-looking
statements are qualified in their entirety by this cautionary statement,
and we undertake no obligation to revise or update any forward-looking
statements to reflect events or circumstances after the date of this
press release.
Source: MannKind Corporation
For Colby Pharmaceuticals:
David Zarling
Chief Executive
Officer
(650) 333-3150
dzarling@colbypharmaceuticals.com
or
For
MannKind Corporation:
Matthew Pfeffer
Chief Financial Officer
(661)
775-5300
mpfeffer@mannkindcorp.com