Andromeda Biotech is focused on the development of an innovative treatment for type 1 diabetes. The Company's lead product, DiaPep277® is a unique peptide which was invented at the Weizmann Institute of Science and is fully licensed to Andromeda by the Yeda Research & Development Company.
DiaPep277® is currently in phase III clinical trials and presents a novel therapeutic approach for treating type 1 diabetes by immunomodulating the immune system, thus preventing the destruction of pancreatic cells that secrete insulin and preserving their natural function.
To date, there is no therapy that can prevent the destruction of insulin secreting beta cells. DiaPep277® is designed to treat type 1 diabetes patients with residual insulin secreting cells. Target populations include newly diagnosed adult patients, type 1 diabetic children, people with high risk type 1 diabetes, type 1 diabetes patients with slow progressing disease, and type 2 diabetes patients with auto-antibodies.
Currently, DiaPep277® is in phase III clinical studies. The first phase III study is being conducted at 40 medical centers in Europe, Israel, and South Africa. Andromeda is starting a confirmatory Phase III study to obtain marketing approval in the USA and Europe. This study will be conducted at about 100 medical centers worldwide in North America, Europe, South America, and Israel.
Andromeda Biotech was founded in 2007 by Clal Biotechnology Industries (CBI). In June 2009, Teva Pharmaceutical Industries signed an agreement with Andromeda Biotech to receive worldwide marketing rights for the DiaPep277® product. In return, Teva will invest in the company supporting the clinical development program of DiaPep277®.
