Yumanity achieves research milestone in its collaboration with Merck; Yumanity to receive $5 million milestone payment
Michael J. Fox Foundation awards grant to accelerate early proof-of-concept testing of promising Parkinson’s disease therapy
BOSTON, Jan. 11, 2022 (GLOBE NEWSWIRE) — Yumanity Therapeutics (Nasdaq: YMTX), a clinical-stage biopharmaceutical company focused on the discovery and development of innovative, disease-modifying therapies for neurodegenerative disease, today provided an update on recent corporate developments. This includes the achievement of a research milestone for our joint amyotrophic lateral sclerosis (ALS) / frontotemporal lobar dementia (FTLD) program, which triggered a $5 million milestone payment to Yumanity from Merck and the awarding of a research grant from The Michael J. Fox Foundation for Parkinson’s Research (MJFF) to accelerate early proof-of-concept testing of a promising Parkinson’s disease therapy.
“Development of effective treatments for neurodegenerative disease has been challenging in the past when there was a lack of deep understanding of the underlying pathophysiological processes of these diseases,” said Paulash Mohsen, Chief Business Officer of Yumanity. “Our target discovery engine is designed to reveal these processes and identify targets for therapeutic intervention. We are very gratified to further validate the strength of our platform through our collaborations with Merck and the Michael J. Fox Foundation and look forward to their future progress.”
Merck-Yumanity collaboration agreement update
Under the collaboration agreement announced in June 2020, Merck gained exclusive rights to two novel Yumanity programs for the treatment of ALS and FTLD. Yumanity and Merck are collaborating to advance the two preclinical programs during the research term, after which Merck has the right to continue preclinical discovery efforts, clinical development and commercialization. Yumanity received an upfront payment and is eligible to receive research, development and sales-based milestone payments of up to $525M associated with the successful development of marketed products for pipeline programs, as well as royalties on net sales.
MJFF grant award
Yumanity was awarded a $500,000 grant to further investigate preclinical efficacy and biomarker development for YTX-7739, which is in clinical development for the treatment of Parkinson’s disease. YTX-7739 is Yumanity Therapeutics’ proprietary lead small-molecule investigational therapy designed to penetrate the blood-brain barrier and inhibit the activity of a novel target, stearoyl-CoA desaturase. Yumanity recently announced top-line results from its successful Phase 1b clinical trial for YTX-7739 in patients with Parkinson’s disease and is expecting to start its randomized Phase 2 clinical trial in 2022.
“MJFF is a globally recognized advocate and supporter of innovative research toward new treatments to stop Parkinson’s and ease symptoms,” said Dan Tardiff, Vice President, Translational Research at Yumanity and principal investigator on the grant. “We are proud to be recognized by the awarding of this grant as a contributor to the urgent pursuit of a cure for Parkinson’s disease.”
About Yumanity Therapeutics
Yumanity Therapeutics is a clinical-stage biopharmaceutical company dedicated to accelerating the revolution in the treatment of neurodegenerative diseases through its scientific foundation and drug discovery platform. The Company’s most advanced product candidate, YTX-7739, is currently in Phase 1 clinical development for Parkinson’s disease. Yumanity’s drug discovery platform enables the Company to rapidly screen for potential disease-modifying therapies by overcoming the toxicity of misfolded proteins associated with neurogenerative diseases. Yumanity’s pipeline consists of additional programs focused on Lewy body dementia, multi-system atrophy, amyotrophic lateral sclerosis (ALS or Lou Gehrig’s disease), frontotemporal lobar dementia (FTLD), and Alzheimer’s disease. For more information, please visit www.yumanity.com.
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