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SynCore Biotechnology Co., Ltd

Drug Names(s): MBT-0206, SB05

Description: EndoTAG-1 is a combination of the established cytostatic drug, paclitaxel, and a delivery system made up of cationic lipids. The novel delivery system of EndoTAG-1 ensures the specific delivery of the drug to the newly formed tumor blood vessels. The walls of these developing blood vessels have a negatively charged surface to which the cationic liposomes attach for the release of the cytostatic drug, which destroys the blood vessels, thus reducing the tumor's nutrient supply.

Paclitaxel prevents cell division (mitosis) by interfering with tubulin strands of microtubules.Microtubules are cylindrical structures that form the basis of the cellular skeleton and are essential to the reproduction, growth, and spread of tumor cells. Normally, as a part of the mitotic process, microtubules are reorganized to form a spindle. Paclitaxel binds tubulin, promoting polymerization and preventing de-polymerization of microtubules, resulting in cell death.

Deal Structure: Medigene and Munich
In August 2004, MediGene AG acquired anti-cancer drug candidates and platform technology from Munich Biotech AG (MBT).

A syndicate of existing Munich Biotech AG investors contributes major assets of the insolvent MBT and in addition invests 4 million to permit further development of the products and technology under the roof of MediGene AG. In return, this syndicate led by Global Life Science, HypoVereinsbank (HVB Life Science) and DEWB, which also includes SET and MPC amongst other investors, will receive MediGene shares amounting to 12.5 million . After the transaction, the 1.96 million new shares issued from authorized capital for this purpose will correspond to 12.7% share in MediGene AG. The newly issued shares are subject to a 12 months lock-up period.

Depending on clinical achievements with MBT-0206, MediGene will make milestone payments to the receiver of MBT, starting with clinical phase III. The assets acquired by MediGene include the...See full deal structure in Biomedtracker

Partners: MediGene AG

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