Active Biotech announces new direction

PRESS RELEASE

Lund Sweden, February 5, 2020 - Active Biotech (NASDAQ STOCKHOLM: ACTI) announces that the Board of Directors, has approved a new direction for the company. This decision follows a detailed opportunity analysis of the company’s wholly owned clinical lead assets, laquinimod and tasquinimod. Based on assessment of the many scientific publications and extensive pre-clinical and clinical data accumulated, an analysis of the commercial attractiveness of different clinical indication opportunities to Active Biotech, as well as an external advisory challenge, new focused target indications and corporate priorities have been defined.

Tasquinimod will be advanced in a new academic partnership, as an immunomodulatory product with a novel mechanism of action, for the treatment of multiple myeloma. Laquinimod will be advanced, as an immunomodulatory product with a novel mechanism of action, for use as a topical agent in inflammatory eye diseases and as an oral treatment of patients with Crohn’s disease.

Going forward, Active Biotech has a project portfolio comprising naptumomab, partnered to NeoTX and currently in Phase 1b/2 for the treatment of advanced solid tumors, and the new clinical and pre-clinical programs for tasquinimod and laquinimod.

No further work on the prior clinical programs within multiple sclerosis or Huntington’s disease for laquinimod or solid tumors for tasquinimod will be undertaken. In addition, Active Biotech will for now put on hold the paquinimod and SILC-projects, to create a clear focus on the prioritized activities, and no further communication in relation to these assets is expected.

Opportunity analysis and new pipeline projects
Over the past 6 months, we have undertaken a detailed evaluation of tasquinimod and laquinimod from a technical as well as a commercial perspective, to assess potential value-enhancing paths forward for the company in developing these assets. The analyses included updated scientific insights on the mechanism of action of the compounds, as well as analyses of how best to leverage the existing clinical safety data. A broad network of international expert advisors has been engaged in this process, to ensure adequate external challenge of ideas and directions developed. The new indications now being advanced for tasquinimod and laquinimod represent diseases with significant unmet medical need and commercial potential where IP has been secured or filed.