LungRx and mondoBIOTECH, the World Economic Forum Technology Pioneer 2008, signed a transatlantic strategic partnership agreement for developing drugs for patients with rare diseases
A major advance has been made on this International Human Rights Day 2007 for the Human Rights of patients affected by rare diseases. Lung Rx, a wholly-owned subsidiary of United Therapeutics Corporation, and mondoBIOTECH created a transatlantic strategic partnership focused on helping patients battling orphan diseases. The agreement on delivery of peptide drugs has an anticipated value of $55 Million for mondoBIOTECH, excluding royalties and other more contingent rights and agreements. The agreement provides Lung Rx with a large pipeline of products to treat orphan lung diseases as well as other diseases that are optimally treated by inhaling peptides.
“Since there are an estimated 7,000 orphan diseases, and millions of deaths attributed to them in total, perhaps the most rare thing about rare diseases is the extent of industry commitment to their treatment,“ said Martine Rothblatt, Ph.D., President and Chief Executive Officer of Lung Rx. “Furthermore, in this emerging age of pharmacogenomics we are learning that many seemingly prevalent diseases are actually comprised of a large number of much smaller subsets based on the great diversity of genetic variations in patients’ responses to molecules. In this sense, we are all subject to orphan diseases, and I believe that our agreement with mondoBIOTECH is a start of a better future for millions of as yet unattended patients”.
“After selection as Technology Pioneer 2008 by the World Economic Forum just very recently, mondoBIOTECH is entering a partnership with Lung Rx with the clear determination to improve the life conditions for as many as possible sufferers from severe orphan diseases. We start with five peptides from our portfolio, tackling disease with extremely high medical need”, stated Fabio Cavalli, CEO and Founder of mondoBIOTECH.
“The use of inhalation to deliver peptides for the treatment of rare diseases holds significant therapeutic potential” said Lewis J. Rubin, MD, FCCP, and Professor of Medicine at University of California San Diego Medical Center. “The drug discovery talents of mondoBIOTECH and the clinical trial expertise of Lung Rx create a unique bench-to-bedside partnership.” Dr. Rubin is also the Chairman of the Lung Rx Scientific Advisory Board and was responsible for introducing the two companies.
Lung Rx, a wholly-owned subsidiary of United Therapeutics Corporation, is a biotechnology company focused on unmet medical needs in pulmonary medicine and pulmonary delivery of innovative therapeutic products.
mondoBIOTECH AG is a private Swiss biotech company founded in 2001 and headquartered in Basel, Switzerland. The company is focused on the development of treatment options for fatal and neglected rare diseases. mondoBIOTECH currently has 30 products in development for 30 indications, and is carrying out its “search and development” strategy to identify potential treatments for many other rare diseases. The company has out-licensed its lead product Aviptadil for use in Pulmonary Arterial Hypertension to Biogen Idec and Interferon-gamma for the treatment of IPF to Intermune Inc. The company has obtained 5 Orphan Medical Product Designation for Aviptadil in Europe and in the US, the last one granted in October 2007for the treatment of Sarcoidosis in the European Union. mondoBIOTECH is selected Technology Pioneer 2008 by the World Economic Forum. For more details, please visit www.mondobiotech.com.
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