BOSTON & BALLERUP, Denmark–(BUSINESS WIRE)–Elektrofi, Inc., a Boston-based biotechnology company focused on drug formulation and delivery innovations, and LEO Pharma A/S, a global leader in medical dermatology, today announced an exclusive license agreement to develop subcutaneously administered antibodies using Elektrofi’s high-concentration, low-volume delivery technology.
Under the terms of the agreement, Elektrofi will license its proprietary technology to LEO Pharma for LEO Pharma’s use and will codevelop improved formulations of investigational LEO Pharma antibodies. The license is exclusive for use against a specific target in dermatology indications. Elektrofi will receive upfront payments for access to its technology; milestone payments pending the achievement of pre-specified clinical, regulatory and commercial milestones; and sales-based royalty payments. Other terms of the agreement were not disclosed.
“We have enjoyed a productive partnership with Elektrofi’s innovative team since 2017 in support of our goals of developing therapies that are transformative in terms of the patient experience,” said Kim Kjøller, Executive Vice President, Research and Development, LEO Pharma. “We are pleased to deepen our partnership with Elektrofi through this license agreement with the mutual vision of redefining the forefront of biologics administration to benefit patients.”
Elektrofi is working to address the long-standing and unmet need for stabilized, highly concentrated biologics through its formulation platform. This platform, through a proprietary microparticle technology, is designed to enable patient-friendly, small-volume injections for monoclonal antibodies, therapeutic proteins and other large molecule drugs of growing importance to human health.
“Our technology has the potential to drive significant change in the treatment landscape for patients across a variety of disease areas and indications,” said Chase Coffman, CEO and Co-Founder, Elektrofi. “This license agreement represents a significant step forward in improving the delivery of biologics with an emphasis on patient-centric innovation. We are excited about the growth of our relationship with LEO Pharma and we look forward to ongoing collaboration with a partner who shares our commitment to improving the experience for patients receiving biologic medicines.”
Elektrofi is a biotechnology company focused on improving administration for a wide range of medicines including monoclonal antibodies, therapeutic proteins, and other large molecule drugs. Its breakthrough formulation platform aims to enable stabilized, highly concentrated formulations for subcutaneous administration. The company is using this technology to transform therapies that are administered intravenously, and to enhance injectable products by reducing the volume and frequency of dosing. Elektrofi partners with pharmaceutical companies to jointly develop patient-friendly delivery solutions. Headquartered in Boston, the company’s founding team of MIT engineers and scientists are shaping the future of biologics delivery. Visit www.elektrofi.com for more information.
About LEO Pharma
LEO Pharma helps people achieve healthy skin. The company is a leader in medical dermatology with a robust R&D pipeline, a wide range of therapies and a pioneering spirit. Founded in 1908 and owned by the LEO Foundation, LEO Pharma has devoted decades of research and development to advance the science of dermatology, setting new standards of care for people with skin conditions. LEO Pharma is headquartered in Denmark with a global team of 6,000 people, serving 92 million patients in 130 countries. In 2019, the company generated net sales of DKK 10,805 million.