APT Therapeutics enters asset purchase agreement with AstraZeneca
APT Therapeutics, a privately held biopharmaceutical company, has announced a research collaboration, option and asset purchase agreement with AstraZeneca. APT Therapeutics has applied proprietary protein engineering strategies to develop APT102, an innovative human apyrase therapy for the treatment of thrombotic diseases. Uniquely different than current FDA-approved antithrombotic drugs that can increase bleeding risk, APT102 attenuated clot formation without causing bleeding in animal models of heart attack and stroke. APT102 has also been shown in animal models to mitigate bleeding associated with current antithrombotic medications. Moreover, APT102 has demonstrated a fast onset of action in animal models, giving it potential to fulfill an unmet need in prehospital settings where “time is heart and brain.”
Under terms of the agreement, AstraZeneca will make an upfront cash payment to APT. APT will be eligible to receive future payments upon achievement of certain key development milestones. AstraZeneca will fund all future clinical trials for heart attack and/or stroke.
"AstraZeneca is a global leader in cardiovascular drug development and marketing with extensive expertise in antithrombotic therapy, which makes it an ideal partner to help us achieve APT102's therapeutic and market potential," said Ridong Chen, Ph.D., president and chief executive officer of APT Therapeutics. "By combining their strengths with our own research and development expertise in human apyrase therapy, we have a great opportunity to develop a breakthrough drug that will safely and substantially improve the lives of millions of patients worldwide."
“We are constantly building our portfolio in the cardiovascular disease area with projects and technologies that demonstrate innovative mechanisms of action and are relevant to patients with unmet medical needs. The science behind APT102 provides a differentiated opportunity for cardio protection during the critical acute phase after a heart attack or stroke,” said Marcus Schindler, vice president, Cardiovascular and Metabolic Diseases, Innovative Medicines and Early Development at AstraZeneca.