According to Protalix BioTherapeutics, the company has signed an agreement with SarcoMed USA giving SarcoMed exclusive worldwide license agreement for Protalix’s PRX-110 inhaled alidornase alfa for the treatment of respiratory diseases including pulmonary sarcoidosis and pulmonary fibrosis. SarcoMed’s lead candidate, SM001, is an inhaled DNase 1 formulation that the company is developing for the treatment of pulmonary sarcoidosis.
The licensing agreement, which is contingent on the successful negotiation of a supply agreement within 60 days following execution of the license agreement, includes a $3.5 million up front payment to Protalix, plus milestone payments and royalties on any sales.
Protalix’s President and CEO Dror Basha commented, “We are pleased to partner with SarcoMed USA, a privately-held company led by professionals with a wealth of experience in the research and development of pharmaceuticals. Most patients with pulmonary sarcoidosis do not show symptoms and do not realize they have the disease until it has progressed to later stages. Currently available treatment options vary significantly from patient to patient, and the treatments generally either control symptoms or improve the patient’s lung function. A treatment that both controls symptoms and improves the patient’s lung function is needed in the market today. We believe PRX-110 has the potential to be an exciting treatment option. Also, we believe this transaction further validates and enhances our development pipeline of drug candidates that can be produced through ProCellEx.”
Protalix noted that the FDA granted orphan drug designation to alidornase alfa for the treatment of sarcoidosis in July 2020.
Read the Protalix Biotherapeutics press release.
