Evgen, PharmAgra Labs and Lalilab enter into Option Agreement
Evgen Limited (United Kingdom) is delighted to announce that it has entered into an Option Agreement to license, on a world-wide exclusive basis, a new pharmaceutical formulation developed by PharmAgra Labs Inc (North Carolina) and Lalilab Inc (North Carolina).
The license rights, which include all pharmaceutical and medical food applications, would enable Evgen to develop what their Directors believe is the first shelf stable sulforaphane composition for the potential prevention and treatment of a number of conditions, including early stage prostate cancer.
The cancer preventative benefit of cruciferous vegetables (such as broccoli) is widely believed to be due to a molecule called glucoraphanin, which converts to the bioactive molecule, Sulforaphane. Whilst sulforaphane has been well studied with regard to its mechanism of action in chemoprevention, it has hitherto been an unrealistic drug candidate due to poor stability.
Chief Executive of Evgen, Dr Stephen Franklin said:
"We are delighted to enter into this Option Arrangement with PharmAgra Labs and Lalilab. Sulforaphane is one of the most promising natural products with a significant body of scientific literature relating to its mechanism of action, its safety profile and efficacy as demonstrated by in-vitro and in-vivo preclinical work. Despite this promise, clinical development of the molecule has been impractical due to its instability. We now believe we have addressed this barrier and have the appropriate intellectual property to advance this drug into the clinic".
Speaking on behalf of PharmAgra Labs Inc and Lalilab Inc, Roger Frisbee, Co-President of PharmAgra Labs Inc, said:
"PharmAgra, Lalilab and Evgen share a common vision of the commercial potential of a stabilised sulforaphane. Combining our chemistry and manufacturing skills, together with Evgen’s clinical development expertise, we are confident that we could be embarking on a drug development programme with a much lower risk of clinical failure than is typical for a new chemical or biological entity".
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