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Announcement of Option Agreement between FunPep and SHIONOGI Regarding Allergy Vaccine
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Osaka, Japan, March 4, 2024 – FunPep Co., Ltd. (Head office: Ibaraki City, Osaka Prefecture; CEO: Toshimi Miyoshi; hereafter “FunPep”) and Shionogi & Co., Ltd. (Head Office: Osaka City, Osaka Prefecture; CEO: Isao Teshirogi; hereafter “SHIONOGISHIONOGI”) are pleased to announce the execution of an option agreement (hereafter “Option Agreement”) regarding the anti-IgE antibody-induced peptide “FPP004X,” currently under development by FunPep for the treatment of seasonal allergic rhinitis (pollen allergy).
Through this option agreement, SHIONOGI will acquire exclusive research, development, and commercialization rights for FPP004X worldwide, based on the results of clinical trials conducted by FunPep. As part of this contract, SHIONOGI will pay FunPep a one-time fee upon signing of JPY 300 million, a one-time licensing fee if the option is exercised, and up to JPY 17.8 billion in development and sales milestones, along with royalties based on sales. Additionally, SHIONOGI will invest JPY 200 million in FunPep as part of this option agreement.
FunPep’s FPP004X, which is currently undergoing preclinical trials, is a allergy vaccine that aims to achieve therapeutic effects by stimulating antibody production against IgE within the body. IgE (Immunoglobulin E) is a type of antibody that plays a role in eliminating foreign substances that enter the body, and can trigger allergic reactions when it binds to allergens such as pollen. FPP004X, an antibody-inducing peptide targeting the IgE protein, is expected to have sustained effects against allergies because of its ability to stimulate IgE antibody production in immune cells for a specific period. Leveraging this feature, our goal is to offer a convenient new treatment option that can relieve symptoms throughout the season by administering it before pollen dispersal for patients suffering from pollen allergies, particularly as the first indication.
Through this collaboration, FunPep and SHIONOGI will advance preclinical and clinical trials for FPP004X, promoting research and development toward the early realization of an allergy vaccine.
For media inquiries, please contact: FunPep Website Inquiry Form: https://www.funpep.co.jp/en/contact SHIONOGI Website Inquiry Form: https://www.shionogi.com/jp/ja/quest.html#3.
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