ALM201 licensed to South Korean pharmaceutical for development

A novel anti-angiogenic peptide has been licensed to a South Korean firm for clinical development

The novel anti-angiogenic peptide ALM2012 has been licensed to a South Korean pharmaceutical company for clinical development and marketing.

That is according to a statement issued by the Northern Ireland-based firm Almac Discovery, which is focused on the development of novel approaches to cancer treatments.

As part of the agreement, Shin Poong will make an undisclosed upfront payment and pay milestones and royalties.

ALM201 is targeted to cells expressing CD44 and works by inhibiting migration of vascular endothelial cells. The product has a good toxicology profile and is entering phase I/II clinical trials in the UK.

President and managing director of Almac Discovery Stephen Barr said: "We are delighted to be partnering with Shin Poong. Their work on ALM201 in South Korea will complement our own programme very well and will add significant scientific value."

Chief executive of Shin Poong Won June Chang welcomed the move too, with Almac Discovery now in search of partners for ALM201 across all other territories.