Boston Scientific and Corautus Genetics enter gene therapy alliance
Boston Scientific Corporation, from Natick, MA, US and Corautus Genetics, San Diego, CA, have entered into a strategic alliance to develop and commercialise a gene therapy technology to treat cardiovascular disease, focusing initially on patients with severe ischemic heart disease who have been unresponsive to conventional therapies.
Boston Scientific Corporation, from Natick, MA, US and Corautus Genetics, San Diego, CA, have entered into a strategic alliance to develop and commercialise a gene therapy technology to treat cardiovascular disease, focusing initially on patients with severe ischemic heart disease who have been unresponsive to conventional therapies.
Boston Scientific has made a $9m investment in exchange for 10% of Corautus' equity on a fully diluted basis, paid a $1m license fee for certain intellectual property, and has committed to purchasing up to $15m of convertible debt from Corautus based on achievement of certain milestones, for a combined investment potential of $25m.
Boston Scientific has obtained exclusive rights to distribute Corautus' vascular endothelial growth factor 2 (VEGF-2) gene products once regulatory approval is obtained.
Corautus plans to begin clinical trials in the fourth quarter to test the efficacy of its (VEGF-2) gene. The gene will be delivered with a Boston Scientific cardiac delivery catheter. This catheter is designed specifically to deliver genes to the heart without deactivating the gene, which may be a problem with non-gene specific catheters.
Earlier trials using Corautus' VEGF-2 gene therapy showed promising clinical improvements in patients with severe coronary disease when compared to patients receiving a placebo. Earlier trial results were published in the April 2002 issue of Circulation.
The introduction of VEGF-2 gene therapy may produce new blood vessels in heart tissue, thus increasing blood supply and helping relieve angina symptoms and improve heart function. The American Heart Association estimates that there are six to seven million patients who suffer from angina in the United States. It is estimated that up to 300,000 patients have angina that is unresponsive to conventional therapy.
'Treatment of ischemic heart disease with VEGF-2 gene therapy shows great promise, based on the earlier clinical trials we have conducted,' said Dr Douglas Losordo,Chief of Cardiovascular Research at Caritas St. Elizabeth's Medical Center of Boston. 'In these earlier trials the incidents of angina attacks were reduced with no evidence of significant negative side effects. The combination of Corautus' VEGF-2 gene therapy technology and Boston Scientific's specialised gene therapy delivery catheters has the potential to become an important weapon in the fight against ischemic heart disease. I'm looking forward to beginning the next trial to evaluate the efficacy of this therapy in a larger patient population.'
'We have been following this technology for several years, and we are increasingly impressed by its promise,' said Fred Colen, Senior Vice President and Chief Technology Officer of Boston Scientific. 'This alliance will combine Boston Scientific's catheter knowledge with Corautus' gene technology in an effort to develop a new generation of cardiovascular disease treatment. We have great confidence in the ability of the Corautus team to realise the potential of this technology.'
'We are extremely proud of this association with Boston Scientific, one of the global leaders in the treatment of cardiovascular disease,' said Richard Otto, ceo of Corautus. 'Boston Scientific's investment in Corautus represents a high level of confidence in the technology we have created using gene therapy for treating coronary artery disease, as well as in our clinical results. Looking to the future, this alliance also gives both parties a platform for developing additional gene therapy technologies.'