September 21, 2014 7:21 AM ET

Pharmaceuticals

Company Overview of Andromeda Biotech Ltd.

Company Overview

Andromeda Biotech Ltd. is engaged in the research and development of drugs for the treatment for autoimmune diabetes. It offers DiaPep277, a product in Phase III clinical trial for treating Type 1 diabetes (T1D). The company’s clinical trial product, DiaPep277 is a peptide that represents a therapeutic approach to prevent the destruction of insulin producing cells in the pancreas. Its DiaPep277 product serves newly diagnosed adults, children, and adolescents with T1D; LADA patients; and people with a high risk of developing T1D. The company was founded in 2007 and is based in Yavne, Israel. As of June 12, 2014, Andromeda Biotech Ltd. operates as a subsidiary of Hyperion Therapeutics, Inc.

42 Hayarkon Street

Industrial Area

Yavne,  81227

Israel

Founded in 2007

Phone:

972 8 938 7777

Fax:

972 8 940 7737

Key Executives for Andromeda Biotech Ltd.

Chief Executive Officer
Age: 63
Chief Financial Officer
Strategic Planning and Program Director
Vice President of Clinical Development
Compensation as of Fiscal Year 2014.

Andromeda Biotech Ltd. Key Developments

Evotec Announces Legal Steps Against Andromeda Biotech, Ltd

On 08 September 2014, Hyperion Therapeutics Inc. announced that it will discontinue the product development of DiaPep277(R) for newly diagnosed Type 1 diabetes, because Hyperion affirmed that it uncovered evidence that certain employees of Andromeda in collusion with a third-party biostatistics firm in Israel engaged in serious misconduct with regard to the use of generated data in order to manipulate the analyses to obtain a favourable result of the Phase III trial. In 2007, DeveloGen AG sold all rights to the drug candidate DiaPep277(R) to Andromeda, a newly formed wholly owned subsidiary of Clal Biotechnology Industries Ltd. Under the terms of this asset purchase agreement, DeveloGen transferred all rights in DiaPep277(R) to Andromeda in return for single-digit royalty rates and certain milestones in the single-digit rate upon commercialization of DiaPep277.

Hyperion Therapeutics, Inc., Andromeda Biotech Ltd. - M&A Call

To discuss Acquisition of Andromeda Biotech Ltd.

Andromeda Biotech Ltd. Announces First Patient Dosed in Extension Study to its Phase 3 Clinical Trial DIA-AID 2 in Patients With Type 1 Diabetes

Andromeda Biotech Ltd. announced that the first patient was dosed with DiaPep277(R) for the treatment of type 1 diabetes in its Extension Study to the Phase 3 Clinical Trial DIA-AID 2. The open label, 24 month extension study is designed to evaluate long term safety, tolerability, and the effect of DiaPep277(R) on the ability of patients to maintain glycemic control for two additional years following the completion of the DIA-AID 2 confirmatory study. DIA-AID 2 is scheduled to be completed at the end of 2014. This extension study will be conducted in medical centers in the USA, Europe, and Israel. Patients who are eligible to be enrolled in the extension study are those who have completed two years of treatment in the DIA-AID 2 trial and have residual beta cell function (stimulated C-peptide not less than 0.2 nmol/L) regardless whether they were on the actual drug or on the placebo. All eligible patients will be treated with subcutaneous injections of 1 mg of DiaPep277(R) given quarterly for two additional years. The extension study is expected to be completed at the end of 2016. This extension study is part of a clinical development plan which was presented to the regulatory authorities in Europe and in the USA.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
April 24, 2014
--
Merger/Acquisition
February 19, 2014
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