News-20230825

TOKYO (Japan) and MONTPELLIER (France), August 25th, 2023

Remiges’ portfolio company, Phost’in Therapeutics SAS (Phost’in) in Monpellier, France and Taiho Pharmaceutical Co., Ltd. (Taiho Pharmaceuticals) n Tokyo, Japan have announced that the two companies have entered into an option and license agreement through which Taiho Pharmaceutical will obtain option rights to in-license PhOx430, a First-in-Class small molecule targeting GnT-V (N-acetylglucosaminyltransferase-V), and 2 additional undisclosed compounds from Phost’in’s drug portfolio.

According to the terms of this agreement, Taiho Pharmaceutical will make an upfront payment to Phost’in. In return, Taiho Pharmaceutical will receive an option right to in-license PhOx430 and additional undisclosed compounds and to exclusively develop and commercialize the compounds in Japan and certain other territories in Asia (excluding China).  When Taiho Pharmaceutical will exercise its option right, the company will make an option exercise payment, as well as additional payments upon achievement of clinical, regulatory and commercial milestones. The company will also pay royalties on net sales in its regions.

Phost’in retains the right to develop and commercialize the licensed compounds in other territories, including North America, Europe and China and will be in charge of manufacturing.
We at Remiges believe that establishing strategic deals between our investors and our portfolio companies as strategic achievements is one of the most important goals at our funds, and we are very much delighted to see that such a deal has been reached between Phost’in and Taiho Pharmaceuticals. 

About PhOx430
PhOx430, which uniquely targets GnT-V, a key n-glycosylation enzyme responsible for supporting cancer proliferation, formation of fibrotic tissues and suppressing the immune response, is currently being evaluated in Europe in an adaptive Phase I/II in patients with advanced solid tumors. It is the first program from the Phost’ScreenTM platform that combines unique and patented chemical libraries with cutting-edge screening tools to produce selective n-glycosylation inhibitors for the treatment of cancer and other serious immunoinflammatory diseases.

About Phost’in Therapeutics
Phost’in Therapeutics is a biotechnology company specialized in the discovery and development of NCE’s specifically targeting abnormal pathogenic glycosylation mechanisms. Its PhOx430 program is currently being evaluated in Europe in a multicentre clinical trial of patients with advanced solid cancers. The company also leads upstream research programs in several other diseases using its unique expertise and discovery platform. A spin-off of the academic world , Phost’in possesses, in addition to its own patents, an exclusive license for two families of academic patents owned by CNRS (Centre National de la Recherche Scientifique), ENSCM (Ecole Nationale Supérieure de Chimie de Montpellier), and the Universities of Montpellier, Sorbonne Paris Nord and Paris Saclay. Based in Montpellier, France, the company was awarded a national Special Prize in the 2014 ILab competition of the French Research Ministry at its creation and has since raised €12m from international funds, with the renewed support of bpifrance, LifeScience cluster Eurobiomed, Region Occitanie and Montpellier Med Vallée. 

For more information about Phost’in Therapeutics, please visit:  www.phostin.com ; or contact Richard Meadows, CBO of Phost”in Therapeutics at Richard.meadows@phostin.com