ARK BIOSCIENCES (Ark) announced today that the company has entered into a license agreement with F. Hoffmann-Roche Ltd (Roche) to transfer a potential new standard-of-care treatment for idiopathic pulmonary fibrosis to Ark. The new agent has already completed its first-in-human clinical trial.
Under the agreement, Ark receives an exclusive license to develop and commercialize the product globally, subject to milestone and royalty payments. Financial details of the agreement were not disclosed, but Roche will retain certain preferential rights.
Ark will now move forward with further clinical development of this potential new treatment for idiopathic pulmonary fibrosis. Commented Dr Stephen Toovey, Chief Medical Officer of Ark, “Idiopathic Pulmonary Fibrosis is a progressive and fatal disease that robs victims of breath and life. Ark is committed to bringing this promising new treatment for idiopathic pulmonary fibrosis to patients”.
Dr Jim Wu, CEO of Ark, added, “We are very pleased with the agreement with Roche, which expands our existing intellectual property portfolio and reflects our focus on respiratory and infectious disease. As a recognized developer of innovative medicines for the treatment of respiratory disease, Ark will bring a unique focus to developing this novel drug as a potential future standard-of-care for idiopathic pulmonary fibrosis, with clinical studies globally, and in China.”
About ARK BIOSCIENCES
ARK BIOSCIENCES is a global biotechnology company focusing on innovative drug discovery and development, especially in the fields of infection and respiratory disease, for world-wide markets. It has its corporate office in the Zhangjiang Hi-tech Park of Shanghai, and its R&D Center in Suzhou Biobay, the heart of pharmaceutical innovation in China. ARK BIOSCIENCES has its own active discovery programs, active development partnerships, and licensed drug assets under development. For more information, please visit www.arkbiosciences.com
About Idiopathic Pulmonary Fibrosis
Idiopathic Pulmonary Fibrosis is an orphan disease that affects about 5 million people worldwide, including about 100,000 patients in US. It is an invariably fatal disease which progressively destroys lung tissue, replacing healthy lung with fibrotic scar like tissue. The cause is unknown, and the disease is considered incurable. Sufferers experience increasing shortness of breath, chronic cough, and ever decreasing effort tolerance; respiratory failure and death typically supervene within four years of the initial diagnosis.