British Biotech and GeneSoft collaborate to discover and develop novel antibiotics
09 August 2002
First in class product expected in clinic by Q4 2002
British Biotech plc (LSE: BBG, Nasdaq: BBIOY) and GeneSoft Inc. announced today that they have signed agreements for a broad-based collaboration to discover and develop novel anti-infective drugs based on British Biotech's proprietary bacterial metalloenzyme inhibitors.
Combining British Biotech's novel targets, chemistry and
clinical development with GeneSoft's experience in antibiotic lead
optimisation and clinical expertise, the collaboration will focus
on three specific areas:
- clinical development and marketing of BB-83698, British Biotech's lead peptide deformylase (PDF) inhibitor, governed by a licence, development and commercialisation agreement;
- lead optimisation and clinical development of oral PDF inhibitors, governed by a research agreement; and drug discovery research exploiting British Biotech's portfolio of intellectual property and expertise in respect of other microbial metalloenzyme targets, governed by a research agreement.
GeneSoft will make an initial payment to British Biotech of US$4 million. On commencement of a Phase I study of BB-83698, anticipated in October 2002, GeneSoft will pay British Biotech a further US$1 million and equity representing 3.45 per cent of GeneSoft.
GeneSoft is delighted to partner with British Biotech to
discover and develop new antibiotics,
said Gary Patou, MD,
GeneSoft's President. The medical community desperately needs
new mechanism of action antibiotics to combat multidrug resistant
bacteria. We believe that the programmes developed within British
Biotech have tremendous potential to bring new antibiotics to
patients.
Welcoming the agreement, British Biotech Chief Executive Dr
Elliot Goldstein said: Through this collaboration British
Biotech has achieved its three key objectives of expanding the
Antibiotic Programme, while sharing the costs and commercialisation
rights. GeneSoft is an ideal partner for the programme. It
specialises in antibiotic drug discovery and development and brings
a wealth of clinical and scientific expertise in this
field.
BB-83698
BB-83698 represents a new class of antibiotic and is targeted at
hospitalised patients with community-acquired pneumonia. A Phase I
clinical study in healthy volunteers, to determine safety and
pharmacokinetics of single doses of an intravenous formulation, is
expected to begin in October 2002.
Under the first part of the collaboration, British Biotech and GeneSoft have entered into an exclusive agreement to co-develop and commercialise BB-83698. The development costs will be shared equally by British Biotech and GeneSoft, as will the world-wide profits.
PDF research programme
In support of BB-83698, British Biotech and GeneSoft have entered
into an exclusive research agreement, for an initial period of
three years, to identify further PDF inhibitors for clinical
development, including oral inhibitors for broader indications. The
collaboration will allow increased resource and capabilities to be
applied to the PDF programme to exploit fully the potential of this
novel series of agents. British Biotech will maintain resources on
this programme at current levels with GeneSoft adding resource
equivalent to 170 per cent of British Biotech's. As with BB-83698,
development costs and world-wide profits are shared equally.
Other metalloenzyme targets
GeneSoft will select from British Biotech's other anti-microbial
metalloenzyme programmes, and determine the research projects that
it wishes to progress. British Biotech will receive undisclosed
milestone and royalty payments on the successful development and
commercialisation of any products from each research project.
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