The Singapore Eye Research Institute (SERI) has pulled out of a collaboration with TME Pharma less than seven months after cementing their work on an eye disease program.
Back in June, the SERI announced a new agreement to work with existing partner TME on advancing NOX-E36, also called emapticap pegol, into the clinic. The German biotech had been developing the anti-CCL2 RNA aptamer as a potential treatment for a range of ophthalmic indications, including glaucoma filtration surgery, fibrosis and inflammation in the back of the eye.
The June agreement (PDF) established a fixed revenue-sharing model, with TME Pharma receiving a “larger share of future licensing consideration.” TME was also charged with leading “commercial discussions, streamlining engagement with potential investors and licensing partners interested in advancing NOX-E36's development in ophthalmology.”
But TME announced this morning that the partnership with the SERI has been terminated—although the Berlin-based biotech stressed this development was “unrelated to the quality and potential of NOX-E36.”
Instead of heading into the clinic, TME’s new strategy is to launch studies this month to “validate detection of NOX-E36 in a toxicologically relevant animal.” These will be the “first of the studies necessary to enable local administration of NOX-E36 to patients undergoing glaucoma filtration surgery to continue advancing this promising program,” TME explained in the Jan. 5 release.
While the SERI had previously been charged with sourcing funds to pay for a phase 1b study of NOX-E36, TME acknowledged one of the benefits of the new strategy is that the costs of the animal study will be “limited.”
The cash-strapped biotech ended the year with just $2 million in the bank—a quarter of which was provided by Diede van den Ouden, who became CEO in June.
TME has managed to take one drug into the clinic in the form of a phase 1/2 study of its brain cancer drug NOX-A12, otherwise called olaptesed pegol. But the trajectory of the CCL2 inhibitor also appeared uncertain this morning.
The company said it has kept the study open “so that it can be resumed as soon as a suitable partner is found.” The biotech plans to present a “clear update and strategy to the market in the coming weeks.”
“We have high expectations for NOX-36 and NOX-E12 and are currently considering all options,” van den Ouden said in the release.
“We would have liked to continue the collaboration with SERI, but we also see opportunities to develop the program with other partners,” van den Ouden added. “TME is pursuing alternatives and will inform the market as soon as there is concrete news about ongoing discussions about NOX-E36 and NOX-E12.”
Like other beleaguered biotechs, TME has been exploring the possibility of investment in cryptocurrencies. But the company has yet to take the plunge, according to this morning’s update.
“To date, no attractive opportunity has presented itself, and the company has not invested in the crypto markets,” TME said.