Ascendis Pharma A/S (Nasdaq: ASND) today announced the formation
and launch with Frazier Life Sciences of Eyconis, Inc., a separate
company created to develop, manufacture, and commercialize TransCon
ophthalmology assets globally, together with an investor syndicate
that includes Frazier, RA Capital Management, venBio, and
HealthQuest Capital.
Ascendis Pharma has granted Eyconis exclusive rights to develop
and commercialize TransCon ophthalmology products globally and
received an equity position in the newly formed company. In
addition, Ascendis will be eligible to receive development,
regulatory, and sales milestone payments of up to $248 million,
plus single digit royalties on global net sales of commercialized
products, if any. Eyconis will initially be based in Redwood City,
California, and certain employees of Ascendis are expected to join
the newly formed company.
Eyconis is led by ophthalmology industry veteran, Emmett
Cunningham, M.D., Ph.D., MPH, Senior Partner at HealthQuest
Capital, who joins Eyconis as Executive Chairman, and experienced
biopharmaceutical executive Oliver Boris Stauch, who joins Eyconis
as Chief Operating Officer after serving previously as Head of
Ophthalmology at Ascendis Pharma.
“The opportunity for Eyconis is tremendous, given the
acknowledged need for improved ophthalmology treatments,
particularly in wet age-related macular degeneration (AMD),
diabetic macular edema (DME), retinal vein occlusion (RVO) and
geographic atrophy (GA),” said Dr. Emmett Cunningham, Eyconis'
Executive Chairman. “We believe the TransCon technology platform
will be the first to achieve long-acting and effective delivery of
multiple clinically validated biologics - which together constitute
the most commonly used therapies for the major causes of retinal
blindness. With the expertise of the Eyconis team and access to
TransCon technology, we believe Eyconis is well-positioned to
develop innovative, best-in-class therapies for retinal
disease.”
In addition to Dr. Cunningham, Daniel Estes, Ph.D., and Anna
Chen, Ph.D., from Frazier, Conrad Wang, M.D., from HealthQuest
Capital, and Yvonne Yamanaka, Ph.D., from venBio have joined the
board in connection with the financing. Ascendis has the right to
designate one individual to the board.
“Through partnership with experts who have significant knowledge
and deep experience in ophthalmology, we have an opportunity to
apply our unique TransCon technology platform to develop new
treatment options to address large unmet medical needs beyond our
core focus in endocrinology rare disease,” said Jan Mikkelsen,
Ascendis Pharma’s President and Chief Executive Officer. “The
formation of Eyconis is a great example of how we are working to
leverage the broad potential of TransCon in new therapeutic areas
to create value for patients, shareholders and society.”
About Ascendis Pharma A/SAscendis Pharma is
applying its innovative platform technology to build a leading,
fully integrated biopharma company focused on making a meaningful
difference in patients’ lives. Guided by its core values of
patients, science and passion, the company uses its TransCon
technologies to create new and potentially best-in-class therapies.
Ascendis is headquartered in Copenhagen, Denmark and has additional
facilities in Germany and the United States. Please visit
http://ascendispharma.com to learn more.
Forward-Looking Statements This press release
contains forward-looking statements that involve substantial risks
and uncertainties. All statements, other than statements of
historical facts, included in this press release regarding
Ascendis’ future operations, plans and objectives of management are
forward-looking statements. Examples of such statements include,
but are not limited to, statements relating to (i) Eyconis’ ability
to develop, manufacture, and commercialize TransCon ophthalmology
assets globally with an investor syndicate, (ii) Ascendis’
eligibility to receive development, regulatory, and sales milestone
payments and royalties and the amounts thereof, (iii) Ascendis’
expectation that Eyconis will initially be based in Redwood City,
California and certain Ascendis employees will join the newly
formed company, (iv) the TransCon platform’s ability to achieve
long-acting and effective delivery of multiple clinically validated
biologics, (v) Eyconis’ ability to develop innovative,
best-in-class therapies for retinal disease, (vi) Ascendis’ ability
to apply its TransCon technology platform to develop new treatment
options to address large unmet medical needs beyond its core focus
in endocrinology rare disease, (vii) Ascendis’ ability to leverage
TransCon in new therapeutic areas, (viii) Ascendis’ ability to
apply its platform technology to build a leading, fully integrated
biopharma company and (ix) Ascendis’ use of its TransCon
technologies to create new and potentially best-in-class therapies.
Ascendis may not actually achieve the plans, carry out the
intentions or meet the expectations or projections disclosed in the
forward-looking statements and you should not place undue reliance
on these forward-looking statements. Actual results or events could
differ materially from the plans, intentions, expectations and
projections disclosed in the forward-looking statements. Various
important factors could cause actual results or events to differ
materially from the forward-looking statements that Ascendis makes,
including the following: dependence on third party manufacturers,
distributors and service providers for Ascendis’ products and
product candidates; unforeseen safety or efficacy results in
Ascendis’ development programs or on-market products; unforeseen
expenses related to commercialization of any approved Ascendis
products; unforeseen expenses related to Ascendis’ development
programs; unforeseen selling, general and administrative expenses,
other research and development expenses and Ascendis’ business
generally; delays in the development of its programs related to
manufacturing, regulatory requirements, speed of patient
recruitment or other unforeseen delays; Ascendis’ ability to obtain
additional funding, if needed, to support its business activities;
the impact of international economic, political, legal, compliance,
social and business factors, including inflation, the effects on
its business from the worldwide COVID-19 pandemic and ongoing
conflicts such as that in the region surrounding Ukraine and
Russia. For a further description of the risks and uncertainties
that could cause actual results to differ from those expressed in
these forward-looking statements, as well as risks relating to
Ascendis’ business in general, see Ascendis’ Annual Report on Form
20-F filed with the U.S. Securities and Exchange Commission (SEC)
on February 16, 2023 and Ascendis’ other future reports filed with,
or submitted to, the SEC. Forward-looking statements do not reflect
the potential impact of any future licensing, collaborations,
acquisitions, mergers, dispositions, joint ventures, or investments
that Ascendis may enter into or make. Ascendis does not assume any
obligation to update any forward-looking statements, except as
required by law.
Ascendis, Ascendis Pharma, the Ascendis Pharma logo, the company
logo, and TransCon are trademarks owned by the Ascendis Pharma
group. © January 2024 Ascendis Pharma A/S.
Investor Contacts: |
Media Contact: |
Tim Lee |
Melinda Baker |
Ascendis Pharma |
Ascendis Pharma |
+1 (650) 374-6343 |
+1 (650) 709-8875 |
tle@ascendispharma.com |
media@ascendispharma.com |
ir@ascendispharma.com |
|
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Patti Bank |
|
ICR Westwicke |
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+1 (415) 513-1284 |
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patti.bank@westwicke.com |
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