BioCentury
ARTICLE | Company News

Proteo, Biotech Development Corp. deal

May 26, 2014 7:00 AM UTC

Financing company Biotech Development will provide up to €3.5 million ($4.8 million) in funding to support development of Proteo's Elafin tiprelestat in the EU to prevent acute postoperative inflammatory complications after resection of esophageal cancer. In exchange, Biotech Development is eligible for an undisclosed portion of revenue of the product in the indication. Elafin has completed Phase II testing for the indication, and Proteo plans to conduct a Phase III trial.

The natural antagonist of elastase and proteinase-3 has Orphan Drug designation in the EU to treat esophagus carcinoma and in the U.S. to prevent inflammatory complications of transthoracic esophagectomy. ...