Aker BioMarine has entered into an agreement with biotech entrepreneur Dr Michael Davidson, and his wholly owned company Medical Food Solutions Research, to develop pharmaceutical therapies for brain and eye health based on Aker’s product Lysoveta, LPC-bound EPA/DHA. This is the first commercial pharmaceutical agreement Aker is entering for this business area.
Under the terms of the agreement, a company will be established to develop the therapies. Aker will retain 50% of the company’s shares and grant it an exclusive license under its IP. Aker will receive milestone payments and double-digit royalties in exchange for the license. It will also supply the company its LPC product needs.
The company will seek to raise $30m from external investors to fund early clinical trials and obain proof of concept for the therapies. It aims to develop therapies for the treatment of diseases related to brain function and development and diseases related to eye health and vision.
“These are all diseases where there is no effective method of treatment available today, and which are having big impact on the life quality of those affected,” said Dr. Michael Davidson. “By using the breakthrough discovery of LPC showing how EPA/DHA can effectively be delivered to the brain and eyes combined with the knowledge of EPA/DHA’s role in these diseases, gives us great confidence in the opportunities that lie within the use of LYSOVETA for development of treatments towards these diseases.”
“This collaboration merges Dr. Davidson’s experience and track record from successful drug developments with Aker BioMarine’s IP and unique position for production and processing of LPC-EPA/DHA, and creates a strong basis for the development of new products within the pharmaceutical sphere,” said Matts Johansen, CEO, Aker BioMarine. “The agreement with Dr. Davidson is an important step to position Aker BioMarine as a global leader in development and commercialization in the LPC space.”