ESBATech Announces Successful Completion of Phase I Clinical Study for Lead Antibody Fragment in Ophthalmic Indications Preclinical Pharmacokinetic Data to be Presented at the 7th International Symposium on Uveitis in Germany
ZURICH, Switzerland, Sept. 8 /PRNewswire/ -- ESBATech AG, a leading developer of antibody fragment therapeutics, today announced that the company has successfully completed its Phase I clinical study of the company's lead product candidate, ESBA105, in ophthalmic indications. In April 2008, ESBATech initiated the Phase I study designed to evaluate the safety, tolerability and pharmacokinetic profile of ESBA105, when delivered topically via eye drops in healthy volunteers. This trial was conducted as a single and repeated dose escalation study in Switzerland. ESBA105 is a single-chain antibody fragment directed against TNF-alpha, and it is being developed initially for ophthalmic indications. Several additional clinical studies are in the preparation stages.
Manfred Zierhut, Professor in the Department of Ophthalmology at the University of Tuebingen in Germany, will present preclinical pharmacokinetic data on ESBA105 on Friday, September 12, 2008, at the 7th International Symposium on Uveitis in Constance, Germany. For more information on the symposium and on Prof. Zierhut's abstract, please visit www.iusg2008.org/.
Dominik Escher, Ph.D., Chief Executive Officer of ESBATech AG, commented, "The completion of this Phase I study with ESBA105 in ophthalmic indications marks a critical clinical milestone for the company. Recently, ESBATech secured CHF 23M (USD 22M) in an extended Series B venture financing round. This financing will fund further clinical studies with ESBA105 in ophthalmic indications, as well as build broad franchises in ophthalmology, rheumatology and respiratory diseases for ESBA105 and other antibody fragments. We look forward to announcing the results of this Phase I study and future clinical trials."
Peter Lichtlen, M.D., Ph.D., Head of Clinical Development at ESBATech AG, commented, "We are encouraged by the safety and pharmacokinetic profile that ESBA105 has demonstrated in this Phase I study and we look forward to continuing our progress in the clinical development of this product."
About ESBATech AG
ESBATech AG is a Zurich, Switzerland-based, privately held drug discovery and development company focused on advancing antibody fragments for therapeutic applications. The company applies its proprietary, fully human single-chain antibody frameworks to generate product candidates against targets of clinical relevance. ESBATech is focused on delivering high concentrations of its therapeutic antibody fragments to the targeted sites, in combination with extremely low systemic load, in order to achieve low risk of systemic drug reactions using topical and local delivery.
Current venture investors include SV Life Sciences, Clarus Ventures, HBM BioVentures, HBM BioCapital, Novartis Bioventures, BioMedinvest and VI Partners. For more information about ESBATech, please visit, www.esbatech.com.
CONTACT: Dr. Dominik Escher, CEO of ESBATech AG, +41-44-733-49-00,
escher@esbatech.com; or Lisa Rivero, lrivero@lavoiegroup.com, or Tim
Allison, tallison@lavoiegroup.com, both of LaVoie Group, +1-978-745-4200 X
106 or 102
Web site: http://www.esbatech.com/
http://www.iusg2008.org//