Xenome and Flinders Partners to develop peptides to treat acute pancreatitis

Brisbane, Australia. 19 November 2008: Xenome Limited today announced it has licensed intellectual property from Flinders Partners Pty Ltd (the technology transfer arm of Flinders University) in South Australia to develop peptides for the treatment of inflammation of the pancreas (acute pancreatitis).  Acute pancreatitis is a poorly managed condition that accounts for over 200,000 hospitalisations a year in the US, with a mortality rate of approximately 10%.

The licensed technology relates to cell surface targets called the galanin receptors, which are associated with the nervous system and the endocrine (hormone) system. Galanin receptors are activated by the peptide galanin.
 
Researchers from Flinders University have demonstrated that binding of galanin to the galanin receptors is involved in the biochemical cascade that leads to severe acute pancreatitis.  In addition, they have identified two peptides that block the activity of the galanin receptors in animal models of pancreatitis, resulting in amelioration of the disease.

Under the contract Xenome obtains access to all relevant patents, patent applications and know-how associated with the Flinders University technology.  Detailed commercial terms of the contract remain confidential; however, in return for an exclusive development and commercialisation licence, Xenome has agreed to pay Flinders Partners cash milestone payments and royalties consistent with the stage of development of the technology.

Xenome will utilise its peptide drug development capabilities to modify the structure of the peptides previously identified by Flinders University to create product candidates that have improved drug properties.  Suitable product candidates will be taken by Xenome into formal pre-clinical development.

“This opportunity fits well with Xenome’s peptide focus and the strategy of leveraging our expertise in peptide chemistry to expand our development pipeline,” said Dr Ian Nisbet, CEO of Xenome.

“We will use technology from Flinders University and other external sources to complement our internal discovery and development activities. New treatments for acute pancreatitis are desperately needed and we’re keen to take the technology from Flinders University forward into development.”

Mr Anthony Francis, managing director of Flinders Partners commented: “We are pleased to see the ground-breaking science from Flinders University in the hands of a company like Xenome, which has demonstrated its ability to move peptide drugs through discovery and into clinical development.”
 
About Xenome:

Xenome is a biotechnology company focused on the discovery and development of peptide-based therapeutics.  The Company's lead product, Xen2174, is a novel conopeptide analogue for the treatment of moderate to severe pain.  Xen2174 is a non-competitive inhibitor of norepinephrine transporter (NET), a validated target for the management of pain.  In an international phase I/II clinical trial in cancer patients, a single intrathecal administration of Xen2174 was found to be safe and well-tolerated across a broad dose range.  In addition, the study provided evidence for an analgesic effect that had a rapid onset of action and was long-lasting.

Xenome's discovery platform is based on proprietary libraries of venom peptides, analogues and mimetics.  In November 2007 Xenome and Amylin Pharmaceuticals, Inc. (NASDAQ:AMLN) entered into a partnership to screen Xenome's xdiscover™ library for new drug candidates against metabolic and musculoskeletal disease targets.  Both Xen2174 and the Amylin partnership leverage off Xenome's unique expertise in peptide chemistry and its ability to translate the evolutionary advantages inherent in venom peptides into highly bioactive, drug-like molecules.

Further information can be obtained from the Xenome website (www.xenome.com).

 
Further information:

Company:
Dr Ian Nisbet
Chief Executive Officer
Xenome Limited
T: + 61 7 3720 8055
Mobile: +61 431 709 121
E: ian.nisbet@xenome.com

Media relations:
Rebecca Wilson
Buchan Consulting
T: +61 2 9237 2800
Mobile: 0417 382 391
E: rwilson@bcg.com.au