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The agreement is for the development of pharmaceutical therapies for brain and eye health based on Aker’s Lysoveta LPC-bound EPA and DHA.
Aker BioMarine has entered into its first pharmaceutical agreement with serial biotech entrepreneur Michael Davidson, MD, and his wholly owned company Medical Food Solutions Research. The agreement is for the development of pharmaceutical therapies for brain and eye health based on Aker’s Lysoveta LPC-bound EPA and DHA.
Under the terms of the new agreement, a new company will be established to develop the therapies, with Aker retaining 50% of the company’s shares and granting it an exclusive license under its intellectual property. This license will be limited in scope to the distinct products and therapies the new company will develop. In exchange for the license, Aker will receive milestone payments and double-digit royalties from commercial sales of the therapies. For these therapies, Aker will supply the LPC products. To bolster these efforts, the new company will seek $30 million from external investors for early clinical trails to obtain proof of concept therapies.
The therapies will seek to treat Alzheimer’s Disease, gestational diabetes, dry age-related macular degeneration, dry eye syndrome, and Stargardt’s juvenile blindness. “These are all diseases where there is no effective method of treatment available today, and which are having big impact on the life quality of those affected,” said Davidson, in a press release. “By using the breakthrough discovery of LPC showing how EPA/DHA can effectively be delivered to the brain and eyes combined with the knowledge of EPA/DHA’s role in these diseases, gives us great confidence in the opportunities that lie within the use of Lysoveta for development of treatments towards these diseases.”
“This collaboration merges Dr. Davidson’s experience and track record from successful drug developments with Aker BioMarine’s IP and unique position for production and processing of LPC-EPA/DHA, and creates a strong basis for the development of new products within the pharmaceutical sphere,” said Matts Johansen, CEO, Aker BioMarine, in a press release. “The agreement with Dr. Davidson is an important step to position Aker BioMarine as a global leader in development and commercialization in the LPC space.”