BURLINGTON, Mass., Feb. 22, 2013 (GLOBE NEWSWIRE) -- Coronado Biosciences, Inc. (Nasdaq:CNDO), a biopharmaceutical company focused on the development of novel immunotherapy biologic agents for the treatment of autoimmune diseases and cancer, announced today the signing of a sponsored research agreement and a joint ownership and exclusive license agreement with Freie Universität Berlin for the identification and evaluation of secretory proteins from Trichuris suis. The evaluation will be done in various pre-clinical in vitro and animal models which will further describe the mechanism of action for TSO (Trichuris suis ova or CNDO-201) and potentially lead to newly identified immune regulatory pharmaceutical agents.
The research will be conducted by Dr. Susanne Hartmann, Professor and Head of the Institute of Immunology / Infection Immunology, Department of Veterinary Medicine, Freie Universität Berlin. Dr. Hartmann is a world-leading expert in immunology and parasitology, having led her laboratory toward novel findings on nematode-host interactions and worked extensively on Trichuris suis among other helminths.
"Coronado is very excited to be working with Dr. Hartmann on this important research collaboration," said Dr. Karin Hehenberger, Executive Vice President & Chief Medical Officer of Coronado. "Working with one of the leaders in the field will help us to further understand the mechanism of action of TSO, our lead product in phase 2 development, and may also result in the identification of novel targets and immune modulatory agents as potential therapeutic candidates for the treatment of autoimmune disease."
"Coronado Biosciences is the ideal partner to work with on this exciting project, based on experience and knowledge of using TSO as a therapeutic agent," stated Dr. Hartmann. "Our laboratory has spent the past few years focusing on the area of autoimmunity and novel ideas around nematode-host interactions, and is eager to embark on this challenging, and potentially rewarding, scientific venture."
Under the terms of the agreements, Coronado will support certain research activities regarding Trichuris suis with Dr. Hartmann at Freie Universität Berlin for four years and in exchange Coronado received an exclusive worldwide license to develop and commercialize any products incorporating inventions resulting from this work. Coronado will be responsible for milestone payments of up to approximately $5.0 million based primarily on the achievement of clinical development and regulatory milestones, and royalties of net sales of products. In parallel with the execution of these agreements, Coronado sublicensed its rights to Ovamed GmbH for territories outside of North American, South America, and Japan.
About Coronado Biosciences
Coronado Biosciences is engaged in the development of novel immunotherapy biologic agents. The company's two principal pharmaceutical product candidates in clinical development are: TSO (Trichuris suis ova or CNDO-201), a biologic for the treatment of autoimmune diseases, such as Crohn's disease, ulcerative colitis and multiple sclerosis; and CNDO-109, a biologic that activates natural killer (NK) cells, for the treatment of acute myeloid leukemia (AML), multiple myeloma and solid tumors. For more information, please visit www.coronadobiosciences.com.
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Source: Coronado Biosciences