- License and supply agreement is based on Crossbeta's proprietary technology and supports Probiodrug's biomarker development activities
Probiodrug AG (Euronext Amsterdam: PBD), a biopharmaceutical company developing novel therapeutic solutions to treat Alzheimer's disease (AD), announced today an agreement with the Dutch biotech company Crossbeta Biosciences B.V. in order to utilize Crossbeta's proprietary technology in support of Probiodrug's biomarker development activities.
AD, the most common form of dementia affecting 26 million people worldwide, is characterized by misfolded beta-amyloid and tau proteins. The oligomeric forms of these proteins play a pivotal role in the patho-physiology of the disease.
Inge Lues, Chief Development Officer of Probiodrug, commented: "We are very pleased to announce the collaboration with Crossbeta. The potential of Crossbeta's unique technology has significant impact to overcome the challenge of establishing and validating sensitive and specific assays for Abeta- and pGlu-Abeta-oligomers to be used in the clinical studies of Probiodrug's lead candidate, Glutaminyl Cyclase (QC) inhibitor PQ912. "
Guus Scheefhals, Chief Executive Officer of Crossbeta, added:"This strategic partnership with Probiodrug is very exciting and an important recognition of our expertise and capabilities. As a clinical-stage company, Probiodrug is a particularly important partner in our growing collaborative network. We look forward to contributing towards the development of this promising therapeutic approach targeting AD."
About Probiodrug AG
Headquartered in Halle (Saale), Germany, Probiodrug AG (Euronext Amsterdam: PBD) is a biopharmaceutical company focused on the development of new therapeutic products for the treatment of Alzheimer's disease.
Founded in 1997, the company successfully developed a novel therapeutic concept for diabetes - the DP4 inhibitors - which provided the basis for a novel class of antidiabetics - the gliptins. Its core capabilities are based on its long-standing expertise in the elucidation of the structure and function of enzymes involved in the modification of proteins and peptides, which play a central role in pathological conditions.
Today Probiodrug's aim is to become a leading company in the development of Alzheimer's disease treatments and to thereby provide a better life for Alzheimer's disease patients. It has identified a new therapeutic concept linked to disease initiation and progression. The development approaches are targeting pyroglutamate-Abeta (pGlu-Abeta) as a therapeutic strategy to fight Alzheimer's disease. The Company has medical use and composition of matter patents related to the inhibition of Glutaminyl Cyclase (QC) and anti-pGlu-Abeta- specific monoclonal antibodies, providing it, in the Company's view, with a leading position in this field of research.
For more information, please contact:
Dr Konrad Glund, CEO<
Supriya Mathur, Eva Haas, Alexia Faure
Tel: +44 (0) 20 7862 6475
The Trout Group
Tel: +1 (646) 378-2953
Crossbeta Biosciences BV
Guus Scheefhals, CEO