now the chinese take our bio's too-well done

29 February 2012
Terms Sheet Agreement to Further Develop ATL1102
• Agreement executed to form the basis of a Strategic Alliance and Joint Venture
arrangement to further develop ATL1102
• Development activities proposed for multiple sclerosis, stem cell mobilization
and asthma applications
• Proposed terms include funding of development activities by partner
Antisense Therapeutics Limited (“ANP” or “the Company”) is pleased to advise that it has executed a
Terms Sheet Agreement with Tianjin International Joint Academy of Biotechnology and Medicine
(TJAB). The Terms Sheet Agreement will form the basis of a proposed definitive and binding Strategic
Alliance and Joint Venture arrangement to be established between ANP and TJAB to further develop
and commercialise ANP’s drug ATL1102 for multiple sclerosis, stem cell mobilisation and asthma.
TJAB was established as part of an initiative of the Chinese Government and State Food and Drug
Administration to accelerate economic growth and develop China’s biotech industry. TJAB was officially
opened in June, 2009 and received an investment of 1.1 billion RMB (A$162 million) from the Tianjin
Binhai New Area to install specialized devices and apparatus in a new technology facility. TJAB have
since completed notable deals with Genzyme Corporation and Johnson and Johnson.
The Terms Sheet Agreement between ANP and TJAB specifies that the parties will establish a Strategic
Alliance and Joint Venture operation. ANP are to provide the JV operation with access and appropriate
licenses to the ATL1102 patents and patent applications and related know-how for ATL1102 research
and development and commercialisation purposes. This includes data previously generated up to and
including the Phase II stage of development.
TJAB and its investment partners are to fund all the agreed development activities that are to be
undertaken by the JV. The initial development activities proposed to be undertaken by the JV in China
to international development standards include:
i. a Phase I/II stem cell mobilization study in cancer patients.
ii. the conduct of a chronic toxicology study in one species to be followed by a Phase IIb study in MS
patients and a potential Phase II study in asthma patients.
Based on successful study outcomes, TJAB will be responsible for commercialization of ATL1102 for
China, and ANP for its commericilisation for the rest of the world. The parties will share income derived
from the commercialization of ATL1102 on agreed splits depending on the level of investment made by
TJAB and in what countries the commercialization benefits are generated. Further details will be
provided when the Strategic Alliance and Joint Venture Agreement is executed. The Terms Sheet
Agreement specifies that the definitive Strategic Alliance and Joint Venture Agreement is to be
executed by 1 July 2012, however the parties are hopeful of earlier agreement. The development
activities planned for ATL1102 would commence immediately thereafter.
Prof Yao-Zhou Zhang, Senior Vice President, Tianjin International Joint Academy of Biotechnology &
Medicine stated “TJAB is very keen to develop a significant competency in the antisense technology
field. I personally have spent many years in research on gene silencing and RNA targeting approaches,
and accordingly am excited by the prospects of working with the second generation antisense
technology via our proposed alliance with ANP. We view ATL1102 as the first of what we hope may be
a broader group of initiatives or projects to come from the proposed alliance with ANP”.
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ANP Managing Director and CEO Mark Diamond stated “We are very pleased to have executed this
Terms Sheet Agreement with TJAB. We believe TJAB will make an excellent development and
commercialization partner for ATL1102 and we are excited about the prospect of moving back into
development with ATL1102, a compound that we have long believed to have significant commercial
value. We look forward to the prospect of a definitive Strategic Alliance and Joint Venture Agreement
with TJAB and to recommencing work on ATL1102”.
Background Information
Antisense Therapeutics Limited (ASX: ANP) is an Australian publicly listed biopharmaceutical drug discovery and
development company. Its mission is to create, develop and commercialise second generation antisense pharmaceuticals for
large unmet markets. ANP has 4 products in its development pipeline. ATL1102 (injection) has successfully completed a Phase
II efficacy and safety trial, significantly reducing the number of brain lesions in patients with multiple sclerosis. ATL1103 is a
second-generation antisense drug designed to block GHr production and thereby lower blood IGF-I levels and is in clinical
development as a potential treatment for growth and vision disorders. ATL1102 (inhaled) is at the pre-clinical research stage
as a potential treatment for asthma. ATL1101 is a second-generation antisense drug at the pre-clinical stage being
investigated as a potential treatment for prostate cancer.
Tianjin International Joint Academy of Biotechnology and Medicine http://www.tjab.org/English/Pages/Home.aspx
Contact Information: Website: www.antisense.com.au
Managing Director: Mark Diamond +61 (3) 9827 8999
Investor Relations: Simon Watkin +61 (0) 413 153272