SYDNEY, Jan. 30, 2017 /PRNewswire/ -- Benitec Biopharma Limited (ASX: BLT; NASDAQ:
BNTC; NASDAQ: BNTCW) is pleased to announce that it has initiated work on two new oncology pipeline programs after executing a
Research Collaboration Agreement with Nant Capital LLC (Nant). This transaction represents a further step in establishing a
strategic alliance with Nant around the development and funding of the head and neck cancer squamous cell carcinoma (HNSCC)
programs.
Greg West, CEO said, "We have hit the ground running in
launching into the development of these two oncology programs. The closing of this transaction solidifies the relationship with a
well-respected, strategic investor who has a high regard for Benitec's scientific platform and expertise. The clinical
stage asset acquired by Benitec, now termed BB-401, performed well in early stage clinical testing and we look forward to
progressing it into mid stage clinical trials. The strategic alliance with Nant better positions the company to access
funding to support the development of this program as well as longer term capital. Furthermore, this transaction
demonstrates we are delivering on our previously communicated strategy of building relationships with long term strategic
partners. Benitec can now access capital markets, with Nant as a cornerstone investor, to progress the development of these
oncology programs and Benitec's other programs. Benitec received approval from its shareholders last month to make a
placement to Nant and to other investors of up to 60 million ordinary shares."
Under the terms of the executed Research Collaboration Agreement, Benitec has taken control of the clinical development of
BB-401, a recombinant DNA construct that produces an antisense RNA with specificity against Epidermal Growth Factor Receptor
(EGFR). This clinically validated molecular target is overexpressed in up to 90% of all HNSCC. According to
GlobalData (Head and Neck Squamous Cell Carcinoma – Opportunity Analysis and Forecast to 2024, February
2016), approximately 64,000 new patients will be diagnosed annually in the US with HNSCC and 50% of the patients are
expected to develop recurrent or metastatic disease, with approximately 13,000 annual deaths expected in the US from HNSCC.
Benitec has assembled a team of experts to articulate the plans for the rapid progression of BB-401 into the next stages of
development, which includes plans to meet with the FDA and other regulatory agencies and targets starting a midstage human
clinical study early in 2018.
In parallel, the scientific team at Benitec has initiated a discovery stage program using its proprietary ddRNAi platform, to
develop follow-on anti-EGFR strategies. The clinical data obtained from the BB-401 program will be used to inform the
development pathway of BB-501, the ddRNAi DNA construct. It is thought that the efficiency of target knockdown will be
significantly greater with RNA interference as opposed to the post transcriptional gene silencing mechanism of BB-401.
Dr Jerel Banks, Chief Investment Officer of Nant Capital said,
"We are excited to have completed this agreement allowing Benitec to initiate the efforts that will propel these programs
forward. We believe that the unique biological and clinical attributes of these compounds may provide new therapeutic
approaches for treating head and neck cancer and are looking forward to working with the team at Benitec."
For further information regarding Benitec and its activities, please contact the persons below, or visit the Benitec website
at www.benitec.com
Australia Investor Relations
|
United States Investor Relations
|
Market Eye
Orla Keegan
Director
Tel: +61 (2) 8097 1201
Email: orla.keegan@marketeye.com.au
|
M Group Strategic Communications
Jay Morakis
Managing Director
Tel: +1 212.266.0190
Email: jmorakis@MGroupSC.com
|
About Head and Neck Cancer (GlobalData Report 2016):
Cancers that are known as head and neck cancers usually begin in the squamous cells that line the moist mucosal
surfaces inside the head and neck, such as inside the mouth and the throat. In 2016, approximately 64,000 new cases of head and
neck cancer are estimated to be diagnosed in the U.S., resulting in more than 13,000 deaths. Head and neck cancers are more than
twice as common among men as they are among women. Squamous cell carcinoma of the head and neck accounts for more than 90% of all
head and neck cancers, and more than 50% of HNSCC patients present with Stage III or higher disease (locally advanced or
metastatic), which has higher potential for progression and recurrence. The relative five-year survival rate for metastatic
head and neck cancers is <38%, and can be as low as 4% for recurrent or metastatic Stage IV disease. Total drugs sales
in the HNSCC markets in the seven major markets (United States, France, Germany, Italy, Spain, United Kingdom and Japan) will
increase from $386 million in 2014 to $1.53 billion in 2024, at a
Compound Annual Growth Rate (CAGR) of 14.8%.
Reference: GlobalData Report (February 2016): Head and Neck Squamous Cell Carcinoma –
Opportunity Analysis and Forecast to 2024
About Benitec Biopharma Limited:
Benitec Biopharma Limited (ASX: BLT; NASDAQ: BNTC; NASDAQ: BNTCW) is a biotechnology company developing innovative
therapeutics based on its patented gene-silencing technology called ddRNAi or 'expressed RNAi'. Based in Sydney, Australia with laboratories in Hayward, California (USA), and
collaborators and licensees around the world, the company is developing ddRNAi-based therapeutics for chronic and
life-threatening human conditions including hepatitis B, wet age-related macular degeneration and OPMD. Benitec has also licensed
ddRNAi to other biopharmaceutical companies for applications including HIV/AIDS, Huntington's Disease, chronic neuropathic pain,
cancer immunotherapy and retinitis pigmentosa.
Safe Harbor Statement:
This press release contains "forward-looking statements" within the meaning of section 27A of the US Securities Act of
1933 and section 21E of the US Securities Exchange Act of 1934. Any forward-looking statements that may be in the press release
are subject to risks and uncertainties relating to the difficulties in Benitec's plans to develop and commercialise its product
candidates, the timing of the initiation and completion of preclinical and clinical trials, the timing of patient enrolment and
dosing in clinical trials, the timing of expected regulatory filings, the clinical utility and potential attributes and benefits
of ddRNAi and Benitec's product candidates, potential future out-licenses and collaborations, the intellectual property position
and the ability to procure additional sources of financing. Accordingly, you should not rely on those forward-looking statements
as a prediction of actual future results.
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SOURCE Benitec Biopharma Limited