Updated on 19 March 2013
No benefits in ATL1102 will accrue to TJAB unless and until all of the conditions precedent to the agreement are fulfilled. Antisense Therapeutics Limited CEO and Managing Director, Mark Diamond said: "We are pleased that we have agreed on a way forward with TJAB on the development of ATL1102 that allows us to undertake two key valuing adding activities while working towards the establishment of a JV. The company is very excited by the prospect of having toxicology study results by the end of this year that could see ATL1102 positioned to move into phase IIb studies in MS patients in 2014."
The MS therapeutics market has grown significantly and is now valued at $12 billion. The company believes that ATL1102, with the recent granting of a US patent significantly extending its patent life, has great commercial potential, particularly if the toxicology study clears the way for the conduct of phase IIb studies. "Similarly, we are very keen to see ATL1102's potential as a stem cell mobilization agent re-enforced by the studies to be conducted by TJAB. We look forward to all these development activities getting underway, which we are confident can add substantial value to this asset," he said.