On June 20, 2022 AskGene Pharma Inc., an innovative clinical-stage biotech company, reported that its partner AffaMed has dosed the first patient in its US Phase 1 study of ASKG712 (AM712), a novel proprietary bispecific biologic molecule blocking both vascular endothelial growth factor (VEGF) and angiopoietin-2 (Ang-2) for the treatment of retinal diseases (Press release, AskGene Pharmaceuticals, JUN 20, 2022, View Source [SID1234616093]). The study will investigate the safety, tolerability, pharmacokinetics, and efficacy of AMSKG712 in subjects with neovascular age-related macular degeneration (nAMD). As a result, AskGene will receive the first development milestone payment from AffaMed.
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Jian-Feng (Jeff) Lu, Ph.D., CEO of AskGene commented: "Dosing the first patient with ASKG712 is a major milestone for this program. AskGene wants to congratulate its partner AffaMed for this achievement, and looks forward to working together with AffaMed and advancing ASKG712 as an innovative and differentiated therapy for the patient population with nAMD and other retinal diseases."
Age-related macular degeneration (AMD) is an acquired degeneration of the retina that results in significant central vision loss due to neovascular (choroidal neovascular membrane formation) and non-neovascular (drusen and retinal pigment epithelium abnormalities) damages. Neovascular AMD is an advanced form of macular degeneration that has historically been the leading cause of AMD-related vision loss. Simultaneous neutralization of VEGF and Ang-2 represents a novel therapeutic approach to treat nAMD with better efficacy.
In late 2021, AskGene licensed to AffaMed the exclusive rights to develop, manufacture, and commercialize ASKG712 globally in ex-Asia plus Japan territories. AskGene retains the rights for develop, manufacture, and commercialize ASKG712 in Asia territories except Japan.