Modus Therapeutics signs collaboration agreement with Arabian Gulf University (Bahrain) for Phase 2 clinical development of sevuparin for Sickle Cell Disease

Modus Therapeutics AB, a Karolinska Development (STO:KDEV) portfolio company focused on innovative treatments for patients with sickle-cell disease, and Arabian Gulf University (AGU), based in Bahrain, today announced that they have signed a Clinical Collaboration agreement for the Phase 2 proof of concept trial of sevuparin in patients with Sickle Cell Disease (SCD) experiencing acute Vaso-Occlusive Crisis (VOC).

Under the scope of the agreement, Modus Therapeutics and AGU’s collaboration will facilitate the development of Modus Therapeutics’s lead candidate, sevuparin, for patients with SCD. AGU will provide up to $1.2 million in non-dilutive funding for the study and assist with patient recruitment. This project will contribute to enhancing AGU’s capabilities in clinical research  through training and engagement in phase 2 clinical trial. In return AGU will receive royalties on future product revenues which are capped at twice the financial support it provides to the Phase 2 proof of concept study.

The Phase 2 proof of concept sevuparin study is currently enrolling patients at several clinical sites in the Middle East, including Bahrain, where AGU is located.

Sevuparin is a novel polysaccharide drug candidate developed to treat vaso-occlusive crises (VOC) in SCD by normalizing the reduced blood flow. Modus Therapeutics has signed a co-development partnership with Ergomed to develop sevuparin, and in October 2015, they announced the start of recruitment into a multi-centre, international, randomised Phase 2 study performed in Europe and the Middle East. Results from this Phase 2 proof of concept trial with sevuparin are expected in the second half of 2016.

Commenting on the announcement, Dr Khalid bin Abdul Rahman Al-Ohaly, President of the Arabian Gulf University said: “Our collaboration with Modus Therapeutics is a landmark moment for both parties, in a deal which is a positive step forward in the fight for treatment for this widespread genetic disorder, which affects around 250,000 – 350,000 patients in the Gulf Co-operation Council (GCC) area alone. The collaboration also endorses AGU’s position as an internationally recognized player in clinical research within the area of SCD.”

Christina Herder, CEO of Modus Therapeutics, added: “We are very pleased to collaborate with Arabian Gulf University on this important proof of concept Phase 2 study as we continue to develop sevuparin, which we firmly believe has the potential to improve the quality of life for millions of SCD sufferers around the globe.”