Vivoryon Therapeutics AG / Key word(s): Corporate Action
Probiodrug AG becomes Vivoryon Therapeutics AG
HALLE (SAALE), Germany, 12 June 2019 - Probiodrug AG (Euronext Amsterdam: currently PBD, to be changed to VVY, ISIN: DE0007921835), focusing on the discovery and development of drugs acting on enzymes which modulate the activity of cellular signalling pathways connected to human diseases, announced today that with entry into the commercial register Stendal the Company has now officially changed its name to Vivoryon Therapeutics AG as of June 11, 2019.
Dr. Ulrich Dauer, CEO of Vivoryon Therapeutics AG, explained that the new name is representative of the evolving commitment of the Company to promote "Healthy-Aging - Pioneering Innovation", adding, "Vivoryon, composed of 'Vivid Memory On', expresses our strong commitment to develop a transformational therapeutic option for patients with Alzheimer's Disease (AD) against the backdrop of multiple late stage industry disappointments. With our proprietary Glutaminyl cyclase (QC) inhibition platform we are technology leaders in this field which has also opened up new opportunities to bring scientific excellence for the benefit of patients to other indications, as we currently see in immuno-oncology."
The name change is a result of a shareholder resolution passed at the Company's Annual General Meeting held on May 29, 2019. In the past year, Vivoryon Therapeutics, has mastered important steps for a successful future. With new management, the Company is well positioned to tackle the next developmental stages of its lead candidate PQ912, a first-in-class, highly specific and potent inhibitor of Glutaminyl-peptide cyclotransferase protein (QPCT), which is highly relevant in the brain and the AD-process, and its isoenzyme, the Glutaminyl-peptide cyclotransferase-like protein (QPCTL), which is relevant in immuno-oncological signaling processes.
Vivoryon Therapeutics will continue to focus on therapeutic solutions for AD, a complex neurological disorder, which is the most common form of dementia. There is currently no cure for Alzheimer's and approved medication only treat some symptoms of the disease. Vivoryon's lead molecule PQ912, which inhibits QPCT as the crucial enzyme for the generation of highly neurotoxic pyroglutamate species of Abeta in the brain, will be investigated in two clinical Phase 2b trials in Europe and the U.S. for the treatment of AD.
The Company, is also exploring options to expand their research into the field of immuno-oncology, the study and development of treatments that take advantage of the body's immune system to fight cancer. Glutaminyl-peptide cyclotransferase-like protein (QPCTL), a posttranslational modifying enzyme that is responsible for the pyroglutamate formation on crucial signaling proteins in oncological immune responses, has recently been identified as a potential oncological target. Inhibitors of QPCTL, like PQ912 and other small molecule compounds protected under Vivoryon's patents have been shown to silence the checkpoint signal from the CD47/SIRP alpha axis between cancer cells and cells of the innate immune system, and thus are offering a novel strategy to augment the efficacy of various antibody therapies in cancer.
As such, the name Vivoryon Therapeutics will highlight the new positioning of the Company's key strengths as a leader in the development of post translational modifying enzymes.
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Notes to Editors:
About Alzheimer's disease
Glutaminyl-peptide cyclotransferase-like protein (QPCTL)
Cancer immune checkpoint inhibitors
Forward Looking Statements
12.06.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||Vivoryon Therapeutics AG|
|Phone:||+49 (0)345 555 9900|
|Fax:||+49 (0)345 555 9901|
|Listed:||Regulated Unofficial Market in Berlin, Frankfurt, Munich, Stuttgart; Amsterdam|
|EQS News ID:||822835|
|End of News||DGAP News Service|