Benzinga | Sep 20, 2021 08:09AM EDT

Celltrion Healthcare And 180 Life Sciences Enter Into Memorandum Of Understanding For A Supply Agreement For The Ongoing Supply Of Drug For Anti-TNF Product Trials For Novel Indications

180 Life Sciences Corp. (NASDAQ:ATNF) ("180 Life Sciences" or the "Company"), a clinical-stage biotechnology company focused on the development of novel drugs that fulfill unmet needs in inflammatory diseases, fibrosis and pain, today announced that they have entered into a Memorandum of Understanding, ("MOU") with Celltrion Healthcare, a leading biopharmaceutical company, for the supply of anti-TNF biosimilar drug used in the ongoing development of anti-TNF products for new indications with significant unmet medical needs.

Dr. James Woody, 180 Life Sciences CEO, commented, "We are delighted at the opportunity to enter into a proposed business relationship with Celltrion Healthcare, the global leader in developing biosimilars including the world's first antibody biosimilar, Remsima(r), infliximab for major autoimmune disorders such as rheumatoid arthritis and ulcerative colitis. Celltrion Healthcare's capabilities for developing biosimilars globally are a natural fit for 180 Life Sciences as we look to extend anti-TNF therapies into new indications. We expect to memorialize our agreement in a binding Letter of Intent ("LOI") near term."

180 Life Sciences will continue to conduct clinical trials for two product candidates and has a planned clinical trial for its next candidate, while Celltrion Healthcare is expected to provide the drug supply of their anti-TNF biosimilar products for clinical trials as required. In addition, both companies anticipate entering into detailed discussions for a potential worldwide development and commercialization license agreement to be completed within the next year.

Matthew Eddleston, Commercial Director of Celltrion Healthcare UK, commented, "We are excited to be collaborating with 180 Life Sciences as the team has a wealth of experience in the field of anti-TNF. We believe that together we can address potential outcomes for patients in these new indications and we are excited about the opportunity for possible exclusivity."

180 Life Sciences is working on new clinical indications for anti-TNF drugs, based on the unparalleled expertise of Co-Chairman Professor Sir Marc Feldmann and CEO Dr. James A. Woody, who pioneered anti-TNF therapy. Working with Clinical Advisory Board Chair Professor Jagdeep Nanchahal at the University of Oxford, the Company is pursuing new indications for anti-TNF therapy, including patients with early-stage Dupuytren's disease, frozen shoulder and delirium/post-operative cognitive deficit (POCD).

All three indications share a similar underlying mechanism of being critically dependent on TNF. Currently, there are no effective treatments for preventing the progression of early-stage Dupuytren's disease. 180 Life Sciences holds exclusive licenses to worldwide patent rights for all three indications.

Professor Sir Marc Feldmann commented, "I am pleased to be working on these exciting clinical-stage product candidates led by my colleague Prof Jagdeep Nanchahal, to address major unmet medical needs. The phase 2b trial for Dupuytren's disease is nearing completion as the data is being analyzed, the frozen shoulder trial has now started and planning for the POCD trial is underway. Having Celltrion Healthcare supply product for these trials and potential later trials enables us to continue clinical development of these products."