Initiator Pharma signs option agreement for Phase 2 ready drug candidate

Initiator Pharma A/S, a biotech company that is developing a novel treatment of erectile dysfunction today announced that it has signed an option agreement with Saniona AB, for a phase 2 ready drug candidate.

Initiator Pharma has secured a 1 year exclusive option agreement for a Phase 2 ready compound, AN788, that has previously undergone clinical development for anxiety and depressive disorders but it has never be tested in a Phase 2 clinical trial. Initiator Pharma intends to reposition the drug candidate based on our expertise with monoamine-reuptake inhibitors. The drug candidate has through the clinical studies already conducted been de-risked to a high extent, and will thus be assessed in a cost-effective Phase IIa, Clinical Proof of Concept study in a patient population with a high unmet medical need.

 I am really excited about getting an option agreement for this Phase 2 ready compound. It provides us with a unique option to expand our pipeline with a further clinical asset, and gives us time to complete the evaluation of clinical potential, the financial implications and the business opportunities at a minimal cost for the company. The asset matches and complements very well the current ongoing activities and the development pipeline of Initiator Pharma, and we look forward to continue the clinical development of this assets.’ say CEO, Claus Elsborg Olesen.  

The agreement between Initiator Pharma and Saniona involves no upfront and milestone payments. Saniona may receive up to 20 percent of future payments to Initiator Pharma in relation to AN788 and single digit royalties on products sales.  

AN788 was developed on the same technology platform as Initiator Pharma’s other preclinical and clinical assets and the program seems to fit well with Initiator Pharma’s pipeline and plans. We are looking forward to follow the progress of this clinical candidate.’  says Jørgen Drejer, CEO of Saniona.

For additional information about Initiator Pharma, please contact: 

Claus Elsborg Olesen, CEO
Telephone: +45 6126 0035 E-mail: ceo@initiatorpharma.com 

This information is the information that Initiator Pharma is required to disclose under the EU Market Abuse Regulation. The information was provided under the above contact person’s auspices, for publication on November 8th, 2018.

About Initiator Pharma

Initiator Pharma is a Biotech company established in Aarhus, Denmark. Its main asset IPED2015 represents a novel treatment paradigm for the treatment of Erectile Dysfunction (ED) and will improve the quality of life for the growing number for patients (and their partners) that do not respond or cannot be treated with the current marketed medication.

About Erectile dysfunction 

Erectile dysfunction is sexual dysfunction characterized by the inability to develop or maintain an erection of the penis during sexual activity. ED affects more than 150 million men worldwide and that number is expected to increase to more than 320 million by 2025, fueled by aging demographics and increasing prevalence of life style diseases such as diabetes. ED patients have decreased quality of life due to various psychosocial factors such as low self-esteem, depression, sadness, anger, frustration, anxiety,  and relationship problems (1,2, 3). 

1.              Shabsigh R, et al. (1998) Increased incidence of depressive symptoms in men with erectile dysfunction. Urology52(5):848–852.

2.             Mccabe MP, Althof SE (2014) A systematic review of the psychosocial outcomes associated with erectile dysfunction: Does the impact of erectile dysfunction extend beyond a man’s inability to have sex? J Sex Med11(2):347–363.

3.             Nguyen HMT, Gabrielson AT, Hellstrom WJG (2017) Erectile Dysfunction in Young Men—A Review of the Prevalence and Risk Factors. Sex Med Rev5(4):508–520.