Prothena Sells ATTR Amyloidosis Programme To Novo Nordisk For Up To $1.2 Bln - Quick Facts

Prothena Corporation plc (PRTA), a late-stage clinical company, announced Monday a definitive purchase agreement, under which it sold clinical stage antibody PRX004 and broader ATTR amyloidosis programme to Novo Nordisk A/S (NVO).

In pre-market activity on Nasdaq, Prothena shares were gaining around 7.2 percent to trade at $63.50.

Under the deal terms, Novo Nordisk, a Denmark-based healthcare company, acquires Prothena's wholly-owned subsidiary and gains full worldwide rights to the intellectual property and related rights of Prothena's ATTR amyloidosis business and pipeline.

Prothena is eligible to receive development and sales milestone payments totaling up to $1.2 billion including $100 million in upfront and near-term clinical milestone payments.

PRX004 is a phase 2 ready anti-amyloid immunotherapy designed to deplete the amyloid deposits that are associated with the disease pathology of ATTR amyloidosis.

ATTR amyloidosis is a rare, progressive, and fatal disease characterised by the abnormal buildup of amyloid deposits composed of misfolded transthyretin protein in organs and tissues, most commonly the heart and/or nervous system.

Prothena said it has completed a phase 1 study with PRX004 in patients with hereditary forms of ATTR, in which PRX004 was found to be safe and well tolerated.

Following the deal, Novo Nordisk will develop the phase 2 ready antibody PRX004 for the rare heart disease ATTR cardiomyopathy - an underdiagnosed and potentially fatal form of ATTR amyloidosis characterised by build-up of amyloid deposits in cardiac tissue.

Hideki Garren, chief medical officer of Prothena, said, "With Novo Nordisk's commitment to further develop PRX004 in ATTR cardiomyopathy, Prothena will continue to focus on our mission to advance our robust portfolio designed to address rare peripheral amyloid and neurodegenerative diseases."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
American Honda Motor Co, Inc. has recalled about 2,900 units of 2022 model year Honda TRX90X All-Terrain Vehicles (ATVs) sold in the United States for possible crash and injury hazard, according to a statement issued by the U.S. Consumer Product Safety Commission or CPSC. The Laundress, a unit of Conopco Inc. d/b/a Unilever, is recalling around 8 million laundry and household cleaning products citing risk of exposure to bacteria, U.S. Consumer Product Safety Commission. The recall involves Laundress laundry detergent, fabric conditioner and other cleaning products. Tesla Inc. has delivered its first Semi, a heavy-duty electric truck, to its customer PepsiCo Inc. during an event at its Nevada Gigafactory. The delivery of 500-mile fully electric Semi truck comes five years after the launch of the truck's prototype in 2017. During Thursday night's Semi Delivery Event at Tesla's Sparks, Nevada factory, CEO Elon Musk, with Dan Priestly, ...
Follow RTT