AgNovos Healthcare and Asahi Kasei Pharma Enter Into an Exclusive Option Agreement for Japan
AgNovos Healthcare, LLC (“AgNovos”) and Asahi Kasei Pharma Corporation (“Asahi Kasei Pharma”) announced today that the companies have entered into an exclusive option agreement for the commercialization of AgNovos’ AGN1 LOEP Hip Kit in Japan. The kit is used to perform a minimally invasive procedure to treat osteoporotic bone loss in the hip.
AgNovos will receive up to $19.5 million of non-dilutive funding. If the AGN1 LOEP Hip Kit is successfully developed and commercialized, AgNovos will be eligible to receive up to $103 million in additional payments and will also receive double-digit royalties on product sales in Japan, that AgNovos estimates could be worth more than $400 million during the term. AgNovos and Asahi Kasei Pharma have agreed to collaborate on all aspects of Japanese market entry and launch.
Tanner Howe, CEO of AgNovos, commented: “We are excited to enter into this agreement with Asahi Kasei Pharma, a proven leader and innovator in the commercialization of osteoporosis treatments in Japan. This partnership validates the promise that our technology can help to address the persistent unmet needs in osteoporosis care in Japan. Asahi Kasei Pharma’s team is experienced, and their network is expansive, making them an ideal partner for us in Japan.”
Yoshikazu Aoki, President of Asahi Kasei Pharma, commented: “We envision the option agreement with AgNovos to be an important step into the medical device business and believe that the AGN1 LOEP Hip Kit may contribute to a better life and living for people who suffer from osteoporosis. We look forward to collaborating with AgNovos for the Japanese market.”
About Osteoporosis and Hip Fragility Fractures
Osteoporosis is characterized by bone loss and reduced bone strength, increasing the risk of fragility fractures. These fractures result from low-energy trauma such as a fall from standing height. The risk of falls resulting in fractures is influenced by the severity of bone loss. The most debilitating type of fragility fractures occur at the hip. These fractures are associated with significant morbidity and mortality, and often create significant burden for affected individuals, families, and healthcare systems. More than two million hip fragility fractures occur globally annually and 200,000 take place in Japan.
About AGN1 LOEP Hip Kit
The AGN1 LOEP Hip Kit contains the instruments and materials to perform a minimally invasive procedure to implant AGN1, a proprietary, calcium-based, osteoconductive, and tri-phasic implant material. AGN1 is uniquely formulated with a cell-friendly surface architecture and a resorption profile that enables the rapid formation of new bone. Preclinical and clinical research has shown that AGN1 LOEP treatment delivers immediate, substantial and durable increase in the strength of osteoporotic femurs. The kit is available in select markets under the brand name OSSURE® LOEP kit.
About AgNovos Healthcare
AgNovos Healthcare is a developer of new therapies that leverage proprietary, bone-building technology and regenerative medicine to address unmet needs in the treatment of bone disease. AgNovos Healthcare is privately held and has its corporate headquarters in New York City with manufacturing, research & development, and corporate support services located in Rockville, MD. www.agnovos.com
About Asahi Kasei Pharma
In accordance with the Asahi Kasei Pharma Mission "To sincerely care for each individual life and solve their unmet medical needs with a wealth of ideas and solid science," Asahi Kasei Pharma operates pharmaceutical and diagnostic businesses in the Health Care Business Unit of the Asahi Kasei Group. For more information, please visit https://www.asahikasei-pharma.co.jp/en/.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210929005004/en/
Contact information
James Pilachowski
Senior Vice President, Hip Program and Marketing
+1 646 502 5868
jpilachowski@agnovos.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Long Tale Games Relaunches Life is Feudal: MMO on Steam With a Significant Event, the Balance Restoration Campaign18.4.2024 15:00:00 EEST | Press release
Long Tale Games (LTG) announces the Steam relaunch of Life is Feudal: MMO. To show appreciation to the game's community, the publisher is launching a special event aimed at the game's original players, the Balance Restoration Campaign. Players who have made any purchases during the previous Life is Feudal: MMO round will receive special LiF Coins that can be exchanged for a subscription to the game. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240418169927/en/ (Graphic: Business Wire) Since the relaunch in June 2023, Life is Feudal: MMO has transitioned to a subscription-based model, removing all pay-to-win features. This shift ensures a level playing field for all players, fostering fairness as success in the game now fully depends on the player's skill and effort, creating a more engaging environment. Until now, the game has only been distributed through the publisher's (LTG.com) own personal gaming platform. However, wi
Newmont Publishes 2023 Sustainability Report and 2023 Tax & Royalties Report18.4.2024 15:00:00 EEST | Press release
Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) today published its 2023 Sustainability Report and its 2023 Taxes and Royalties Contributions Report. The reports highlight the company’s material ESG and socio-economic contributions over the past year. This year marks the 20th anniversary for Newmont’s Annual Sustainability Report, representing a milestone for the company as a longstanding industry leader in sustainability. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240417961090/en/ Newmont's 2023 Sustainability Report (Graphic: Business Wire) "Our 2023 Sustainability Report demonstrates our unwavering commitment to responsible resource management and the integral role that Newmont plays in creating a more sustainable future," said Newmont Chief Safety and Sustainability Officer Suzy Retallack. "We recognize the responsibility we have to mitigate our environmental impact and make a difference in the areas w
Vertex Announces Advancements of Suzetrigine (VX-548) in Acute and Neuropathic Pain18.4.2024 15:00:00 EEST | Press release
Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced important advancements across its suzetrigine pain program, which has the potential to be the first new class of medicine for acute and neuropathic pain in more than two decades. Suzetrigine is an oral selective NaV1.8 pain signal inhibitor (formerly known as VX-548). Following the positive Phase 3 results in acute pain announced in January 2024, the Food and Drug Administration (FDA) has granted a rolling New Drug Application (NDA) submission for suzetrigine in moderate-to-severe acute pain. Vertex has started the rolling submission process and is on track to complete the submission in the second quarter of 2024. Suzetrigine was previously granted FDA Fast Track and Breakthrough Therapy designations in moderate-to-severe acute pain. In neuropathic pain, Vertex released positive results from its Phase 2 study in December 2023 and recently completed a successful end-of-phase 2 meeting with the FDA. Vertex is now preparin
TriLink BioTechnologies® Announces New San Diego Facility for Late Phase mRNA Drug Substance Production18.4.2024 14:36:00 EEST | Press release
TriLink BioTechnologies (TriLink ® ), a Maravai LifeSciences company (NASDAQ: MRVI) and global provider of life science reagents and services, has announced the grand opening of its new cGMP mRNA manufacturing facility. The 32,000-square-foot facility was specifically designed for mRNA manufacturing to support late-phase drug developers from Phase 2 to commercialization via TriLink’s robust mRNA manufacturing capabilities. The milestone opening is expected to help advance the field of mRNA-based medicine as developers flock to leverage the promising modality for a growing list of indications. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240418722567/en/ TriLink BioTechnologies® Cuts Ribbon on New San Diego Facility for Late Phase mRNA Drug Substance Production (Photo: TriLink BioTechnologies®) Located in the Sorrento Valley area of San Diego, the facility features individual Grade C cleanroom suites for mRNA manufacturing,
MediaCo Acquires Estrella Media’s Content and Digital Operations18.4.2024 14:36:00 EEST | Press release
MediaCo Holding Inc. (Nasdaq: MDIA) (“MediaCo”) today announced that it has acquired all of Estrella Media’s network, content, digital, and commercial operations. Among the Estrella Media brands joining MediaCo are the EstrellaTV network and its influential linear and digital video content business, and Estrella Media’s expansive digital channels, including its four FAST channels – EstrellaTV, Estrella News, Cine EstrellaTV, and Estrella Games – and the EstrellaTV app. The transaction closed on April 17, 2024. MediaCo, which operates marquee urban radio stations HOT 97 and WBLS 107.5 in New York City, will be adding Estrella Media’s Spanish-language video, audio, and digital content operations under the same umbrella. This transaction will also allow MediaCo to reach the established audiences of Estrella Media’s market-leading Regional Mexican radio stations, including Que Buena Los Angeles, home of the Don Cheto Al Aire nationally syndicated morning radio show, La Raza in Houston and
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom