Double Bond Pharma and Vivo Biopharma have announced a partnership to revolutionize glioblastoma therapy with their development product SI-053. SI-053 is a locally acting formulation of temozolomide that received Orphan Drug Designation from the European Medicines Agency in 2016. It has recently received the necessary approvals to begin a Phase 1 clinical trial in two Western European countries.
The collaboration between Double Bond Pharma and Vivo Biopharma aims to bring about a new approach to glioblastoma therapy by applying temozolomide directly to the tumor site in conjunction with surgery. This localized application has the potential to accelerate the development of critical therapies for patients with high unmet needs.
Igor Lokot, Chief Executive Officer and founder of Double Bond Pharma, expressed his confidence in the partnership, stating that it aligns with their mission to deliver therapies for markets with a high unmet need. He believes that both companies are uniquely positioned to revolutionize glioblastoma therapy by utilizing the proven glioblastoma treatment, temozolomide, in a localized format.
Ken Suh, Chief Executive Officer of Sauvie Inc., parent company of Vivo Biopharma, stated that the partnership with Double Bond Pharma provides hope for patients suffering from glioblastoma. Through the development and commercialization of SI-053, Sauvie Inc. aims to deliver highly novel therapies that target proven disease pathways in order to improve the lives of cancer patients.
Upon the completion of the transaction, Vivo Biopharma will acquire SI-053 and related assets to advance the clinical program. Double Bond Pharma will collaborate with Vivo Biopharma to support their efforts. The agreement includes milestone and royalty payments for Double Bond Pharma, totaling more than $150 million, based on the achievement of certain clinical, regulatory, and commercial milestones. The closing of the transaction is contingent upon Vivo Biopharma completing the necessary financing, with both parties anticipating closing by the first quarter of 2024.
Glioblastoma, the most common and aggressive malignant form of primary brain tumors, affects glial cells and accounts for a significant percentage of brain tissue tumor cases. The current standard of care for glioblastoma involves surgery followed by radiation and chemotherapy. SI-053 offers a novel delivery format for temozolomide, which can be directly administered at the tumor site after surgical removal. By delivering the therapeutic effect precisely where it is needed, without the need to pass through the blood-brain barrier, temozolomide can effectively destroy the tumor’s DNA and trigger the death of tumor cells.
Both Double Bond Pharma and Vivo Biopharma are committed to developing innovative therapies that address the unmet needs of patients with glioblastoma. The partnership between the two companies brings together their expertise and resources to accelerate the development and delivery of SI-053, offering new hope for patients battling this devastating disease.
