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news.Angiochem is planning to advance the development of product candidates from its pipeline, using company's proprietary platform for Engineered Peptide Compounds (EPiC) for drugs that cross the blood-brain barrier through LRP-1 targeting.
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The product candidates cover a range of therapeutic areas, including pain, obesity and parkinson’s disease, using Angiochem’s technology to enable drugs to penetrate the CNS, including biologics (peptides and proteins) and small molecules.
In addition, Angiochem will continue to actively pursue additional research and development collaborations.
Angiochem president and CEO Jean-Paul Castaigne said they are excited to move forward with their product portfolio, based on the validation of the receptor-targeting peptide technology and the strengthened resources provided by the $35m up-front payment, comprised of $7.5m in cash and $27.5m of shares of Geron common stock to be issued in January 2011, related to the recently announced license and collaboration agreements with Geron.
"We have validated our platform in humans with our lead small molecule product candidate, ANG1005, which has been out-licensed on an exclusive basis," Castaigne said.
"We are now accelerating drug candidates in our pipeline based on our R&D for peptide and protein therapeutics to cross the blood-brain barrier to treat a wide range of CNS diseases and brain related disorders, such as neurodegenerative diseases, obesity, pain, and others.
"Based on our next phase of progress with our pipeline, our goal is to select two candidates in 2011 for clinical advancement."