Stevenage, UK - 26 August 2020 - Autifony Therapeutics Limited (“Autifony”), which is pioneering the development of novel pharmaceutical treatments for serious nervous system disorders, including hearing disorders and schizophrenia, today announced that Autifony has regained full rights to its Kv3 programme. Boehringer Ingelheim will not be exercising its Option under the Option for Asset Purchase Agreement which was signed by the two companies in December 2017. Boehringer Ingelheim’s decision is for strategic reasons and the Agreement between the companies has now ended.
Under the Agreement, Autifony received a €25 million upfront payment, followed by €17.5 million in milestone payments during the Option period. The Kv3 programme progressed significantly during the collaboration with BI, obtaining positive data in a ketamine challenge clinical trial in healthy volunteers, in which the lead molecule, AUT00206, demonstrated clear central nervous system target engagement. During the Option period, Autifony also successfully completed a safety study with AUT00206 in patients with schizophrenia, which generated biomarker data supportive of further progression for this indication. During the last few months Autifony has progressed a further Kv3 molecule, AUT00201, into Phase I, and additional molecules are well advanced for other indications.
Dr Charles Large, Chief Executive Officer of Autifony Therapeutics, commented: “We have very much enjoyed working with Boehringer Ingelheim over the last three years. The collaboration has enabled Autifony to progress the Kv3 programme, completing Phase I and generating a substantial body of data that supports the potential of this novel mechanism for the treatment of schizophrenia and hearing loss.
“Furthermore, we have been able to bring forward additional clinical and development candidate stage Kv3 modulators that can be explored across a broader range of indications, including Fragile X and chronic pain. We are excited about the extraordinary opportunity that the Kv3 programme offers and look forward to progressing our first-in-class compounds into the next phase of development.”
About Autifony Therapeutics Ltd
Autifony Therapeutics is an independent UK based biotechnology company formed in 2011 as a spin-out from GSK, which retains equity in the company. The Company is focused on the development of high value, novel medicines to treat hearing disorders and other serious diseases of the central nervous system. It is funded by SV Health Investors, IP Group, Pfizer Ventures, International Biotechnology Trust PLC, and UCL Business plc.
For more information please visit www.autifony.com
Issued for and on behalf of Autifony Therapeutics by Instinctif Partners.
For more information please contact: Autifony@instinctif.com