Inovio Pharmaceuticals inc.
and Bristol Myers Squibbons Inc. will join forces to launch a new pharmaceutical that aims to combat Alzheimer’s disease.
The joint venture will be based in New York, where Inovion is based, and the two companies plan to use their global network of research partners to develop the product.
The new X4 drug, called Oxo, has the potential to reduce the risk of Alzheimer’s and other dementias by targeting specific proteins.
The company’s senior vice president of global research, Michael Lomax, said the company is confident the drug will be successful.
Lomazza said the X4 product could be developed by early 2019 and approved for the market within five years.
Inovios and Bristol’s global pharmaceutical group, the BioNovo Group, said it plans to invest $1 billion to develop and commercialize Oxo and to work with the two firms on future research.
The companies said they would use the joint venture to explore opportunities to expand their respective products.
Bristol- Myers Squigging Inc. is a leading global pharma firm and a leading producer of human therapeutic agents.
In its first quarter of fiscal 2019, Bristol- myers Squeege said it had revenue of $2.9 billion and a profit of $1.1 billion.
Bristol Myers, Squibes revenue rose 4.9% to $2,742 million.
In the first three months of fiscal 2018, Inovios revenue rose 5.1% to about $2 billion.
BioNova, the biotech arm of Inovions parent company Biogen Idec, had revenue in fiscal 2019 of $9.9 million.
BioGen, the bio-technology arm of Biogen, had a revenue of about $4.7 billion in fiscal year 2019.
BioVerde, the biosciences division of BioNovis, had revenues of $4 billion in the fiscal year.
The two companies have invested heavily in research and development.
In a statement announcing the agreement, Inova said Oxo is being developed using the same platform as the company’s Oxi drug.
Bio-Nova and BioNav are the main players in developing Oxo.
Innovios chief executive Michael L. Lamann said OxO is the first drug to address the disease-causing effects of a protein, the protein-protein interaction, that is known to be disrupted by Alzheimer’s.
Oxo will target the gene that is involved in the interaction, Lamann added.
In addition to Oxo’s clinical development, the two groups plan to collaborate on a vaccine for Alzheimer’s that could be made in the future, Lomazzza said.
Lomas said Oxos research has shown that Oxo has been shown to reduce risk of disease progression, reduce the progression of Alzheimer disease, and prevent dementia and memory loss in humans and in animal models.
The BioNovets research team is using Oxo in the development of a vaccine, and Lomas said Biogen has made some strides in this area.
BioMedInfo, the biotechnology arm of BioGen that specializes in gene therapy, has also worked on Oxo with the BioVerdes research team.
BioProteomics, the pharmaceutical arm of BMS that specializes as a biotechnology company, has developed Oxo as a vaccine candidate.
BioSciences, the division of Biostars that specializes for the development and production of novel pharmaceutical drugs, is also using Oxos technology.
BioVolt, the company that has made significant progress in the pharmaceutical development of Oxo from the gene therapy phase, has received support from Biogen and the Bristol Myers Company.
BioTechVolt is developing Oxos as a potential therapeutic in the elderly.
Inevio will also collaborate with BioVect, the Biostar company that is developing a bioengineered nanoparticle to deliver a therapy to Alzheimer’s patients, Lamas said.
Inovo will also use Oxo for the production of OxO in a vaccine that is being tested on mice.
Inova will also be in a partnership with Biogen to develop Oxo to treat Alzheimer’s in mice, Lamanna said.
“BioVolt has worked on gene therapy and is leading in this field,” Lamann noted.
The drug is being evaluated for the treatment of multiple diseases, including Alzheimer’s, Parkinson’s and amyotrophic lateral sclerosis, he added.
Oxio was developed in collaboration with a group led by researchers at the Institute of Biopharmaceuticals at the University of Bristol in the United Kingdom.
Biopharma has been developing the gene-editing tool in collaboration and for the first time in humans for about five years, Lomas added.
Bioprocess, the firm founded