Zogenix Announces Acquisition of Modis Therapeutics, Inc.
- Advances Zogenix’s strategy to provide transformative therapies to patients and families living with serious rare diseases
- Adds MT1621, a proprietary, late-stage investigational medicine targeting Thymidine Kinase 2 deficiency (TK2d) that has received FDA Breakthrough Therapy and
- Investor conference call and webcast today at
8:30 AM ET
“This transaction advances Zogenix’s mission to become a leading rare disease pharmaceutical company by adding MT1621 to our pipeline of late-stage FINTEPLA® programs,” said
A pivotal Phase 2 retrospective treatment study (called RETRO) of MT1621 substrate enhancement therapy in patients with TK2d was recently completed, with results demonstrating a substantial treatment benefit for patients. Thirty-eight patients from eight clinical sites in three countries (U.S.,
Under the terms of the transaction, Modis will receive an upfront payment of
“Zogenix shares our deep commitment to improving treatment options for patients with rare diseases,” said
Zogenix’s acquisition of Modis is subject to the satisfaction of customary closing conditions, including expiration or termination of the applicable waiting period under the Hart-Scott Rodino Antitrust Improvements Act of 1976 and approval of Modis’s stockholders. Pending satisfaction of the conditions to closing, the transaction is expected to close in
|Conference Call Details|
|8:30 AM Eastern Time / 5:30 AM Pacific Time|
|Webcast (with slides):||http://public.viavid.com/index.php?id=135987|
About TK2 Deficiency
Thymidine kinase 2 deficiency (TK2d) is a genetic disorder that results in mitochondrial dysfunction, leading in turn to inadequate energy production in cells. The disease presents as progressive and severe muscle weakness that profoundly impairs movement, breathing, eating, and other normal functions, and is often fatal. Believed to be significantly underdiagnosed, TK2d affects up to 2,500 patients in the U.S., primarily infants and young children. There are currently no approved therapies for this disease. To learn more, please visit www.tk2d.com.
MT1621 is an investigational deoxynucleoside combination therapy that targets the underlying pathophysiology of TK2 deficiency. Deoxynucleoside combination therapy has been shown to improve cell function and prolong life in preclinical models of TK2d. Data from initial clinical studies suggest that this therapy may meaningfully alter the course of disease in patients with TK2d. Modis is planning to conduct additional clinical studies with the goal of obtaining regulatory approval to make MT1621 available to patients globally.
About Modis Therapeutics
Zogenix is a global pharmaceutical company committed to developing and commercializing transformative therapies to improve the lives of patients and their families living with rare diseases. The Company is preparing to resubmit its New Drug Application for FINTEPLA® (ZX008, fenfluramine) to the
Zogenix cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements. Words such as “believes,” “anticipates,” “plans,” “expects,” “indicates,” “will,” “intends,” “potential,” “suggests,” “assuming,” “designed,” and similar expressions are intended to identify forward-looking statements. These statements include: the expected timing, completion and effects of the acquisition of Modis and the other related transactions; the size of the patient population of TK2d; Zogenix’s expectations that the RETRO study will serve as a pivotal study for
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Source: Zogenix, Inc.