OPKO Health Announces Global License Agreement for the Discovery of Novel Antimicrobials
MIAMI--(BUSINESS WIRE)--OPKO Health, Inc. (NYSE: OPK) today announced a global license agreement with The Scripps Research Institute (TSRI) for the development and commercialization of novel lipoprotein signal peptidase (“Lsp”) inhibitors developed and discovered using a proprietary high throughput screening technology funded and exclusively licensed by OPKO from TSRI.
“This technology is one of the best opportunities we have for the development of specific inhibitors of Lsp, which represents a remarkable target for the development of broad and novel antimicrobial agents, as it is highly conserved throughout the bacterial and mycoplasma kingdoms and no human homologues exist,” said TSRI Professor Dennis Wolan, Ph.D., who led the research on this screening platform.
OPKO has agreed to fund additional work in Dr. Wolan’s laboratory at TSRI and to move as rapidly as possible into clinical trials.
“We are pleased to continue our collaboration with Dr. Wolan and The Scripps Research Institute to develop the next generation of highly effective antibiotics,” said Phillip Frost, M.D., Chairman and Chief Executive Officer. “Our plan is to continue to build on two promising leads already identified and others using the novel screening technology developed at Scripps.”
There is a tremendous unmet medical need for new, potent antibiotics.
About OPKO Health
OPKO is a multinational biopharmaceutical and diagnostics company that seeks to establish industry-leading positions in large, rapidly growing markets by leveraging its discovery, development and commercialization expertise and novel and proprietary technologies. For more information, visit http://www.opko.com.
About The Scripps Research Institute
The Scripps Research Institute (TSRI) is one of the world's largest independent, not-for-profit organizations focusing on research in the biomedical sciences. TSRI is internationally recognized for its contributions to science and health, including its role in laying the foundation for new treatments for cancer, rheumatoid arthritis, hemophilia, and other diseases. An institution that evolved from the Scripps Metabolic Clinic founded by philanthropist Ellen Browning Scripps in 1924, the institute now employs about 2,700 people on its campuses in La Jolla, CA, and Jupiter, FL, where its renowned scientists—including two Nobel laureates—work toward their next discoveries. The institute's graduate program, which awards PhD degrees in biology and chemistry, ranks among the top ten of its kind in the nation. For more information, see www.scripps.edu.
Forward Looking Statements
This press release contains "forward-looking statements," as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning, including statements regarding expected benefits of the technology licensed from Scripps, whether it will enable development of specific inhibitors of Lsp and result in development of broad and novel antimicrobial agents and the next generation of highly effective antibiotics, our ability to build on two promising leads already identified and others using the novel screening technology, our ability to advance to clinical trials, as well as other non-historical statements about our expectations, beliefs or intentions regarding our business, technologies and products, financial condition, strategies or prospects. Many factors could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements. These factors include those described in our Annual Reports on Form 10-K filed and to be filed with the Securities and Exchange Commission and in our other filings with the Securities and Exchange Commission, as well as the risks inherent in funding, developing and obtaining regulatory approvals of new, commercially-viable and competitive products and treatments, that earlier clinical results of effectiveness and safety may not be reproducible or indicative of future results, that the technology and other products under development may fail, may not achieve the expected results or effectiveness and may not generate data that would support the approval or marketing of products for the indications being studied or for other indications, that currently available over-the-counter and prescription products, as well as products under development by others, may prove to be as or more effective than our products for the indications being studied. In addition, forward-looking statements may also be adversely affected by general market factors, competitive product development, product availability, federal and state regulations and legislation, the regulatory process for new products and indications, manufacturing issues that may arise, patent positions and litigation, among other factors. The forward-looking statements contained in this press release speak only as of the date the statements were made, and we do not undertake any obligation to update forward-looking statements. We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.