Evolva concludes licensing of EV-077 to Serodus
Reinach, Switzerland, – Evolva Holding SA (SIX: EVE) and Serodus ASA (Oslo, Norway) today announced that they have signed a final licensing agreement for EV-077, Evolva’s compound targeted at diabetic nephropathy (progressive kidney disease caused by diabetes). A binding term sheet for this transaction was signed by both parties in October of this year.
The successful divestment enables further development of EV-077 to address unmet patient needs by an experienced and committed team. It is fully in line with Evolva’s shift away from pharma and towards ingredients for health, wellness and nutrition.
Serodus aims to bring EV-077 further through clinical development and at a future time point decide whether Serodus or a partner will conduct the final clinical trials. Evolva will be entitled to licensing payments including clinical and regulatory milestones as well as a single-digit royalty on sales. If Serodus at a later stage out-licenses the compound, Evolva will receive up to 30% of Serodus’ total licensing income.
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Evolva is a pioneer and global leader in sustainable, fermentation-based approaches to ingredients for health, wellness and nutrition. Evolva’s products include stevia, vanilla, saffron and resveratrol. As well as developing its own proprietary ingredients, Evolva also deploys its technology for partners, providing them with a competitive edge and sharing in the returns they make. For more information see www.evolva.com.
Serodus is a Norwegian biopharma company which focuses on drug development in the cardio-vascular therapeutic field. One compound, SER100, is being developed for the treatment of Isolated Systolic Hypertension, a condition which is responsible for about 50% of all strokes and heart attacks. Serodus is about to initiate the first clinical trial in therapy resistant patients with Isolated Systolic Hypertension. After the acquisition of Phlogo ApS earlier this year Serodus got the drug candidate SER130 for Heart Attack (Acute Myocardial Infarction) and SER140 for type 2 diabetes.
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|Jakob Dynnes Hansen
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