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Arbutus terminates license agreement for VLP platform for the treatment of hepatitis B infections
Kuros Biosciences announced today that it was informed by Arbutus Biopharma Inc. about the decision to terminate an exclusive license agreement with former Cytos Biotechnology Ltd., a predecessor company of Kuros. As a result, all licensed rights will revert back to Kuros. Under the agreement signed in early 2015, Oncore Biopharma, Inc., a predecessor of Arbutus, was granted access to Cytos’ clinically validated virus like particle (VLP) platform for the use in the treatment and prevention of hepatitis B viral infections as well as an option to use the VLP technology for additional viral diseases. No investments into the program have been made by Cytos or its successor Kuros since 2014.
Schlieren (Zurich), Switzerland, August 30, 2016
“The VLP technology is a non-core program and was moved forward with investments from the collaboration partners. As a result, we have not invested our own funds into this technology since 2014”, commented Didier Cowling, Chief Executive Officer of Kuros. „Kuros Biosciences focuses on tissue repair and regeneration. We are advancing a promising late-stage pipeline of sealants and orthobiologic product candidates.”
About Kuros Biosciences Ltd
Kuros Biosciences Ltd is focused on the development of innovative products for tissue repair and regeneration and is located in Schlieren (Zurich), Switzerland. The Company is listed according to the International Financial Reporting Standard on the SIX Swiss Exchange Ltd under the symbol KURN. Information regarding Kuros is available at www.kuros.ch.
Forward Looking Statements
This media release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. You are urged to consider statements that include the words “will” or “expect” or the negative of those words or other similar words to be uncertain and forward-looking. Factors that may cause actual results to differ materially from any future results expressed or implied by any forward-looking statements include scientific, business, economic and financial factors, Against the background of these uncertainties, readers should not rely on forward-looking statements. The Company assumes no responsibility for updating forward-looking statements or adapting them to future events or developments.
For further information, please contact:
Kuros Biosciences Ltd
Harry Welten, MBA
Chief Financial Officer
Tel: +41 44 733 46 46