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Zybrestat (Injectable)

Mateon Therapeutics, Inc

Drug Names(s): CA4P, Combretastatin A4 Prodrug (Injectable), fosbretabulin tromethamine, fosbretabulin

Description: CA4P leads a novel class of drug candidates called vascular targeting agents (VTAs). CA4P attacks the vascular structure of solid tumors and other diseases characterized by the formation of aberrant blood vessels. By disrupting Vascular Endothelial-cadherin (VE-cadherin) signaling, C4AP triggers a change in the shape of the endothelial cells lining these blood vessels, in turn, blocking the flow of blood to a tumor and depriving it of oxygen and nutrients essential to its survival. Similarly, in eye diseases that are characterized by abnormal blood vessel growth, CA4P has been pre-clinically shown to suppress development and induce regression of these unnecessary blood vessels.

Deal Structure: OXiGENE and Symphony
In October 2008, OXiGENE entered into a strategic collaboration with Symphony Capital Partners, L.P. that will provide OXiGENE with up to $40 million to further advance its pipeline of vascular disrupting agent (VDA) drug candidates for cancer and eye disease. Symphony will provide up to $25 million to Symphony ViDA, a newly-created company that was established to accelerate the development of the OXi4503 and ZYBRESTAT for ophthalmology programs. Additionally, Symphony has invested $15 million directly in OXiGENE to be used for general corporate purposes, including for the development of ZYBRESTAT in oncology.

In July 2009, OXiGENE announced that the Company exercised its option to acquire all of the equity of Symphony ViDA in exchange for six million newly-issued shares of OXiGENE common stock. Based upon a price of $2.08 per share, the closing market price of OXiGENE common stock on July 2, 2009, the stock had a value of approximately $12.5...See full deal structure in Biomedtracker

Partners: Azanta A/S

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