Evecxia Inc. Licenses Additional IP from Duke University
RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--Aug 28, 2018--Evecxia, Inc., a privately funded, clinical stage biopharmaceutical company, today announced that it has expanded its previous license agreement with Duke University to include exclusive, world-wide rights to develop and commercialize methods of improving the bioavailability of 5-hydroxytryptophan (5-HTP). The original license agreement, executed in December 2015, covers issued patents and pending patent applications for slow-release 5-HTP in combination with pro-serotonergic compounds.
“This expanded license agreement with Duke University broadens the patent portfolio and potentially provides additional patent term, scope of protection, geographic coverage, and years of exclusivity to EVX-101, our lead product candidate,” said John Kaiser, CEO of Evecxia. “We appreciate Duke’s collaborative spirit and their trust in Evecxia to develop and commercialize EVX-101,” Mr. Kaiser added.
Under the terms of the agreement, Evecxia will immediately assume full development and commercialization of EVX-101 and any other product candidates emanating from the entire license agreement with Duke. In addition to an equity stake in Evecxia, Duke University will receive an upfront licensing fee as well as milestone and low single-digit royalty payments.
Evecxia Inc. is a privately funded, clinical stage pharmaceutical company co-founded by Duke neuro-psychopharmacologists, Dr. Marc Caron and Dr. Jacob Jacobsen. We are located in the Research Triangle Park, NC. Evecxia’s singular mission is to develop and commercialize EVX-101 to treat patients suffering from disabling, common, and costly neuropsychiatric conditions in which current therapies, in many cases, are sub-optimal.
Evecxia is the first company dedicated to realizing the therapeutic potential of 5-hydroxytryptophan via specialized prescription combinations and drug delivery dosage forms.
EVX-101 is a unique and proprietary oral slow-release formulation of 5-hydroxytryptophan (5-HTP) and low-dose carbidopa. Initially, EVX-101 will be developed and positioned as a first-line adjunctive treatment in depressed patients responding inadequately to conventional antidepressants. As an antidepressant, the development of EVX-101, a new chemical entity (NCE), is uniquely de-risked because the therapeutic mechanism—elevating extracellular serotonin beyond the effect of conventional SSRI/SNRI antidepressants—enjoys human proof-of-concept (POC) for efficacy and safety.
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CONTACT: Evecxia, Inc.
John Kaiser, CEO
KEYWORD: UNITED STATES NORTH AMERICA NORTH CAROLINA
INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY MENTAL HEALTH PHARMACEUTICAL
SOURCE: Evecxia, Inc.
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PUB: 08/28/2018 08:00 AM/DISC: 08/28/2018 08:03 AM