PhaseBio Licenses Elastin-Like Polypeptide Biopolymer Technology to Duke University for Development of Small-Molecule Oncologic Drugs

• Duke gains rights to ELP-small molecule conjugates in oncology  
  
• PhaseBio retains rights to ELP technology in all other applications

MALVERN, Pa., March 24, 2016 -- PhaseBio Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company and leader in the field of biopolymer-based drugs, focused on developing treatments for metabolic and specialty cardiopulmonary disorders, today announced that it has granted Duke University an exclusive sublicense to utilize components of PhaseBio’s Elastin-Like Polypeptide (ELP) technology platform for conjugation to small-molecule oncologic (SMO) drugs, called High Transition Temperature ELP-SMO (HTT ELP-SMO) conjugates, for the treatment of cancer.

Under the terms of the agreement, PhaseBio has granted Duke an exclusive sublicense, with rights to further sublicense, for the development and commercialization of HTT ELP-SMO conjugates for the treatment of cancer. PhaseBio has retained development and commercialization rights to all other applications of its ELP technology platform. The financial terms of the agreement have not been disclosed.

“Promising early data demonstrate HTT ELP-SMO conjugates may provide meaningful improvements in cancer therapies with less toxicity,” said Ashutosh Chilkoti, PhD, Chair of the Department of Biomedical Engineering at Duke. “This agreement allows us to further enhance the therapeutic index of SMO drugs by conjugation to HTT-ELPs. We look forward to rapidly advancing these programs through early development milestones and realizing their full potential through the formation of a new company or a partnership.”

“The agreement’s structure enables Duke to develop potentially significant improvements to cancer therapies, while allowing PhaseBio to remain focused on our core applications for the ELP technology platform and on the metabolic and specialty cardiopulmonary therapeutic areas,” said Jonathan P. Mow, Chief Executive Officer of PhaseBio. “We are thrilled to provide Duke with the opportunity to build on the compelling early data and expand the pipeline of ELP technology-based treatments with the potential to benefit patients.”

About PhaseBio

PhaseBio Pharmaceuticals is a clinical-stage biopharmaceutical company developing novel drugs to treat metabolic and specialty cardiopulmonary disorders. The Company's proprietary technology platform uses recombinant elastin-like polypeptide (ELP) biopolymers to control the half-life, bioavailability and physical characteristics of molecules for ease of administration. The resulting compounds are engineered for a specific rate of absorption to enhance efficacy and reduce side effects. PhaseBio's lead development candidates include: PE0139, a novel, super-long-acting basal insulin-ELP fusion for once-weekly dosing; and PB1046, a weekly vasoactive intestinal peptide receptor agonist for the treatment of acute and chronic heart failure, the treatment of cardiomyopathy associated with Duchenne muscular dystrophy, Becker muscular dystrophy and X-linked dilated cardiomyopathy, and other indications. PhaseBio is privately owned with headquarters and research laboratories in Malvern, PA.

Media Contact:
Laura Bagby, 6 Degrees
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