Angiogene is a drug discovery company focused on cancer and other diseases that are dependent upon active angiogenesis. Our business model involves developing compounds to the preclinical stage at which point they are licensed to major pharmaceutical or drug development companies. This approach shares risk, provides funding for our early-stage research projects, accesses development expertise and resources and may eventually lead to promotion of the drug by an effective global sales force.
Angiogene is a "virtual" company with staff in both Europe and North America. Our research activities are carried out on a contract basis at centres of excellence in the appropriate discipline or therapeutic area. All intellectual property rights from these contracts vest in Angiogene. By keeping the company virtual we retain flexibility, access the skills and experience of leading centres worldwide and focus more of our cash resources on the core research necessary for the generation of innovative products, minimising overheads and greatly reducing administrative costs.
Angiogene secured its first major partnership with a large pharmaceutical company in 1998, licensing the vascular disrupting agent (VDA) ANG453 to AstraZeneca. Renamed ZD6126, this compound has now progressed to Phase II. Angiogene reaquired all rights to ZD6126 from AstraZeneca in March 2006 and is vigorously pursuing the continued development of this "best in class" VDA.
In July 2002, MediciNova Inc. acquired exclusive worldwide rights to Angiogene's second generation vascular disrupting agents (the ANG600 series). MediciNova has assumed responsibility for the future preclinical and clinical development, regulatory activities and commercialization of the ANG600 series. MediciNova initiated a Phase I clinical programme with a compound from this series, MN029, in 2004. Upfront and milestone payments from these partnerships currently fund our research efforts and, should the compounds progress to market, we shall benefit from substantial royalties.
Angiogene is a privately-held company owned entirely by its Directors.