REG - Roquefort Theraptcs. - Randox Licence and Royalty Agreement

Roquefort TherapeuticsAnnouncement

20/02/2023 07:00

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RNS Number : 3604Q  Roquefort Therapeutics PLC  20 February 2023

20 February 2023

Roquefort Therapeutics plc

("Roquefort Therapeutics" or the "Company")

 

Randox Licence and Royalty Agreement

Agreement helps validate and drive Midkine programs

 

Roquefort Therapeutics (LSE:ROQ, OTCQB:ROQAF), the Main Market listed biotech
company focused on developing first in class medicines in the high value and
high growth oncology market, is pleased to announce that it has signed an
exclusive licence and royalty agreement, for the field of medical diagnostics
only, with a leading international diagnostics company, Randox Laboratories
Ltd ("Randox"), in relation to its Midkine antibody portfolio (the "Randox
Licence Agreement").

 

In accordance with the terms of the Randox Licence Agreement, Roquefort
Therapeutics has granted an exclusive worldwide licence (excluding Japan,) for
a period of ten years to utilise its Midkine antibodies in the field of
medical diagnostics. Randox and Roquefort Therapeutics will engage in
collaborative research programs to identify new cancer diagnostics that will
be treatable with the Company's Midkine therapeutics.

 

The commercial terms of the Randox Licencing Agreement remain confidential;
however, Roquefort Therapeutics estimates that the total overall transaction
value to the Company over the life of the agreement is in excess of £5
million.

 

The partnership with Randox focuses on medical diagnostics to detect the
cancers that express Midkine, a heparin-binding protein which is highly
expressed in cancer, prevents tumour cell death and promotes metastatic spread
and resistance to treatment. This licence agreement validates Roquefort
Therapeutics' strategy of targeting Midkine and, by partnering with a leading
diagnostics company producing the diagnostics which are crucial for clinical
trials, the Company can remain focused on developing first in class oncology
medicines.

 

Detecting cancer early significantly enhances the survival chances of patients
with the most common cancers. The Randox Licence Agreement is important for
future cancer treatment because identifying the patients with cancers that
express Midkine is highly synergistic with the development of first-in-class
cancer medicines. These are the patients most likely to benefit from Midkine
therapeutics (antibodies or oligonucleotides) and to be enrolled in
pharmaceutical clinical trials, a key area of focus for Roquefort
Therapeutics.

 

Ajan Reginald, CEO of Roquefort Therapeutics said: "This is highly
complementary and synergistic partnership with the UK's leading diagnostics
company, Randox which enables Roquefort Therapeutics to remain focused on
developing first-in-class medicines, while Randox develops the Midkine cancer
diagnostics that are essential for our clinical trials. Not only does the
transaction highlight our robust IP position and strengthen our balance sheet
it also reflects the high level of interest in our novel cancer pipeline and
highlights the Company's rapid translation and deal-making capabilities."

 

Dr Peter FitzGerald CBE FREng DL, Managing Director of Randox said: "Randox
are committed to the promotion of preventative healthcare through early, more
accurate diagnosis and we are delighted to partner with Roquefort Therapeutics
to utilise their Midkine antibodies in our comprehensive suite of diagnostic
capabilities.  Midkine is highly expressed in cancer, and by enabling earlier
diagnosis of patients we can help improve both quality of life and the
clinical outcome."

-Ends-

 
Enquiries:
 Roquefort Therapeutics plc
 Stephen West (Chairman) / Ajan Reginald (CEO)  +44 (0)20 3918 8633

 Hybridan LLP (Joint Broker)

 Claire Louise Noyce                            +44 (0)203 764 2341

 Optiva Securities Limited (Joint Broker)
 Christian Dennis                               +44 (0)20 3411 1881

 Buchanan (Public Relations)

 Ben Romney / Jamie Hooper / George Beale       +44 (0)20 7466 5000

 

LEI: ‎254900P4SISIWOR9RH34

 

 

About Randox

Randox is an international health and toxicology company in the in vitro
diagnostics industry headquartered in the UK and owned by Peter FitzGerald.
The company is committed to 'prevention' within healthcare, using more
comprehensive and sensitive diagnostics to enable timely intervention -
improving clinical outcomes at reduced cost.  The company develops diagnostic
solutions for hospitals, clinical, research and molecular labs, food testing,
forensic toxicology, veterinary labs and life sciences. It develops,
manufactures, and markets reagents and equipment for laboratory medicine, with
a distribution network of 145 countries.

 

About Roquefort Therapeutics

Roquefort Therapeutics (LSE:ROQ, OTCQB:ROQAF) is a Main Market listed biotech
company developing first in class drugs in the high value and high growth
oncology segment prior to partnering or selling to big pharma.

 

Since listing in March 2021, Roquefort Therapeutics has successfully acquired
Lyramid Pty Limited, a leader in the development of medicines for a new
therapeutic target, Midkine (a human growth factor associated with cancer
progression), and most recently acquired Oncogeni Ltd, founded by Nobel
Laureate Professor Sir Martin Evans, which has developed two families of
innovative cell and RNA oncology medicines.

 

Roquefort Therapeutics' portfolio consists of four fully funded, novel
patent-protected pre-clinical anti-cancer medicines.  The highly
complementary profile of four best-in-class medicines consists of:

·    Midkine antibodies with significant in vivo efficacy and toxicology
studies;

·    Midkine RNA therapeutics with novel anti-cancer gene editing action;

·    STAT-6 siRNA therapeutics targeting solid tumours with significant in
vivo efficacy; and

·    MK cell therapy with direct and NK-mediated anti-cancer action.

 

For further information on Roquefort Therapeutics, please visit
www.roquefortplc.com (http://www.roquefortplc.com) and @RoquefortTherap on
Twitter.

 

 

 

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