Ålesund, 02.07.24, Hofseth BioCare ASA ("HBC" or the "Company"), a global leader
in marine lipid and peptide research, today announces the decision to transfer
its eosinophil-targeting drug candidate MA-022a to its majority-owned subsidiary
HBC Immunology Inc. ("HBCI"). The patent underlying the project has been valued
by KWC AS at $4.5m (based on relief-from royalty method) and HBC will therefore
receive 956,813 common shares in HBCI for the transfer of the patent to HBCI.
HBC has booked approximately NOK 7.4m in costs relating to the patent as per
June 1, 2024. Transfer of the patent will generate an approximately NOK 7.9m
financial gain for HBC in Q2/2024 based on today's exchange rate.
Eosinophils are immune cells that become overactive in allergic and
hypersensitivity conditions including allergic asthma. To date, MA-022a has been
assessed in animal models of allergic asthma which have shown a compelling
treatment effect with reduced airway obstruction and a healthier lung structure.
This work included the oral asthma prescription drug montelukast (brand name
Singulair) as a comparator. MA-022a demonstrated a differentiated profile
indicating the potential to provide different treatment benefits and help
further improve asthma outcomes.
Work has also begun with MA-022a in eosinophilic esophagitis (EoE). EoE presents
with symptoms similar to heartburn (reflux esophagitis) but does not respond to
standard treatment and can progress to pain on swallowing and even difficulty in
swallowing. MA-022a has a different mode of action compared to the two currently
available therapies, biologic therapy and steroids. MA-022a could therefore add
to the clinical armamentarium in this increasingly prevalent condition.
MA-022a is an analogue of the naturally occurring lipopeptide microcolin A. HBC
identified microcolin A as a minor fraction of its whole salmon oil, OmeGo(®),
(https://hofsethbiocare.com/products/omego) and has published novel research on
its anti-allergic effects. MA-022a has significantly greater anti-allergic
effects than microcolin A and these findings combined with the novel structure
of MA-022a has enabled long duration patent protection.
Dr Bomi Framroze, the Chief Scientific Officer at HBC and CEO of HBCI said: "The
adequate control of asthma remains a challenge for many sufferers and more
treatment options are needed to support better health. Our aim is to develop an
oral therapy, based on a natural compound, to improve the lung health of
individuals suffering from mild to moderate eosinophilic asthma and reduce the
need for escalating doses of inhaled steroid therapy".
For more information visit: https://hofsethbiocare.com/
For further information, please contact:
Dr. Crawford Currie, Head of Medical R&D at HBC, Chief Medical Officer at HBCI
Phone: +44 7968195497
E-mail: cc@hofsethbiocare.no (mailto:cc@hofsethbiocare.no)
About HBC:
HBC is a Norwegian consumer and pet health ingredient supplier and an incubator
for new pharmaceutical drug leads. For OmeGo, clinical trial work with our
salmon oil is ongoing to improve lung health in allergic asthma and urban
populations with exposure to raised pollution levels. A study in mild COVID has
completed successfully demonstrating important immune health benefits for faster
recovery. For CalGo, preclinical and clinical trial work is delineating the
joint health benefits of the natural, undenatured type II collagen contained in
it. ProGo provides both metabolic and gastrointestinal (GI) health benefits. The
former includes GLP1 activity and hence consistent weight loss with improved
energy levels from improved iron metabolism. The peptides also support muscle
health providing a triad of benefits important for healthy ageing and active
lifestyles. In terms of GI health, a special formula of soluble protein
hydrolysate (SPH / ProGo®) is being developed as a Medical Food to help treat
Inflammatory Bowel Disease, and for Iron Deficiency Anemia. Research is ongoing
to identify the individual elements within its ingredients that modulate
inflammation and the immune response with pre-clinical studies ongoing in
multiple clinics and University research labs.
The company is founded on the core values of sustainability, optimal utilization
of natural resources and full traceability. Through an innovative hydrolysis
technology, HBC can preserve the quality of the lipids, proteins and calcium
from fresh salmon off-cuts. HBC's headquarters are in Ålesund, Norway with
branches in Oslo, London, Zürich, New Jersey and Palo Alto. HBC is listed on
Oslo Børs with ticker "HBC".
This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act