On 21 October 2021 Genovis entered into a license agreement with Selecta Biocience/Carhtesian Therapeutics. This license agreement has now been terminated by Carthesian Therapeutics and all right to the unique Xork™ enzyme are returned to Genovis. This opens up for new business opportunities with other partners within gene therapy and autoimmune diseases.
Substantial resources have already been invested in the project, which now will be for the benefit of Genovis, amongst other items second and third generation of the Xork enzyme with corresponding patent applications. Currently there are no known pre-clinical or clinical data that suggest that there should not be future opportunities for therapeutic applications of Xork.
"We will now regain full rights to our proprietary Xork enzyme and we can now act on business opportunities with other partners within gene therapy and autoimmune diseases. We have several ongoing partner discussions and we have learned there is a great interest in finding new solutions to neutralizing antibodies." says Fredrik Olsson, CEO, Genovis.
This disclosure contains information that Genovis AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 14-03-2024 17:26 CET.