Triphase Accelerator Announces New Collaboration w

TORONTO and SAN DIEGO, Dec. 21, 2016 (GLOBE NEWSWIRE) -- Triphase Accelerator Corporation, a private drug development company dedicated to advancing novel compounds through Phase 2 proof-of-concept, today announced a new strategic collaboration with Celgene Corporation. Under the Agreement, Celgene has an option to acquire all Triphase Accelerator’s assets relating to TRPH-222 (CD22-4AP), an antibody-drug conjugate in development for lymphoma.

Pursuant to the Agreement, Triphase Accelerator received an upfront payment from Celgene.  Triphase Accelerator will control development and will retain all commercial rights to TRPH-222 (CD22-4AP). If Celgene exercises its option to acquire TRPH-222 (CD22-4AP), Celgene will become responsible for development and commercialization, and Triphase Accelerator will be eligible to receive development, regulatory and sales milestone payments.  This is the third product option deal between Triphase Accelerator and Celgene.

“This collaboration is important to Triphase Accelerator in multiple ways.  First, it continues to solidify the relationship we have developed over time with Celgene.  They have been a valued collaborator to us and we are grateful.  Just as importantly, it continues to validate our business model of acquiring early-stage assets and applying our methodology to accelerate programs through the proof-of-concept phase and into the clinic,” said Mohit Trikha, Ph.D., chief scientific officer, Head of Triphase Accelerator. “As we continue to acquire and develop new assets, we look forward to finding new ways to demonstrate how our approach is uniquely science based, efficient, and cost-effective, with the ultimate goal to help patients.”

TRPH-222 is a novel, site-specific antibody-drug conjugate (ADC) targeting CD22, a B-cell-restricted sialogycoprotein that is an important modulator of B-cell signaling and survival, which is expressed on nearly all B-cell malignancies.  CD22 is a validated ADC target for Non-Hodgkin’s lymphoma and acute lymphoid leukemia.  The compound itself combines a site-specific modified humanized antibody conjugated to a toxin payload and a 4AP linker.

“We have enjoyed a long-standing relationship with Triphase Accelerator and believe in their approach to drug development,” said Celgene’s President of Hematology Oncology, Michael Pehl. “This latest agreement, which closely follows our acquisition of their marizomib asset, represents our confidence in their approach to drug development, and we look forward to a continued collaboration with the company.”

About Triphase Accelerator Triphase Accelerator is a private drug development company with a primary focus on oncology and with operations in Toronto and San Diego. Triphase Accelerator is dedicated to advancing novel compounds through Phase 2 proof-of-concept clinical studies using a unique, science-based, high-quality model that is faster and more cost-effective than traditional pharmaceutical and biotech industry drug development approaches. Triphase Accelerator was spun out of the Ontario Institute for Cancer Research (OICR), with support from the Fight Against Cancer Innovation Trust (FACIT), MaRS Innovation and MaRS. It has a strategic relationship with Celgene for oncology-focused drug development opportunities. For more information, visit www.triphaseco.com  or LinkedIn.

Company Contact: Mohit Trikha, Ph.D., Chief Scientific Officer Triphase Accelerator Corporation info@triphaseco.com 858-295-4343 Media Contact: Triphase Accelerator: Jules Abraham JQA Partners, Inc. jabraham@jqapartners.com 917-885-7378