Biocon eyes insulin IP of ailing Nobex

Biotech major Biocon has expressed interest in picking up intellectual property (IP) and other scientific-related platforms from Nobex Corporation to carry on its oral insulin development.

North Carolina-based Nobex Corporation, Biocon's research development partner, has taken shelter under Chapter 11 of US bankruptcy laws.

Biocon's spokesman said, "Yes we are interested in their IP and are in talks with them to pick up other scientific platforms on which 'Oral Insulin' and 'Oral BNP' is being developed."

Biocon does not anticipate any disruption to its ongoing oral insulin research programme, licensed from Nobex as the company has a majority stake in these platforms and has expressed its intention to buy the balance stake, the spokesman added.

Biocon's investment in Nobex till date is $1 million in common stock and $4.8 million in convertible loans.

Without hazarding a guess, the spokesman said, "Nobex's enterprise value is expected to be determined by March 2006."

In August, Biocon and Nobex had announced a global research collaboration to develop an oral peptide product for the treatment of cardiovascular diseases. The collaboration combines the proven peptide production capabilities of Biocon with the proprietary oral peptide-delivery technology of Nobex.

Biocon and Nobex also had plans to advance the oral human brain-type natriuretic peptide (hBNP) programme towards an IND (Investigational New Drug) filing with the FDA (US Food and Drug Administration) in 2007 and clinical trials beginning later that year.

Administration of hBNP by continuous infusion was approved by the FDA in August 2001 for the treatment of acute congestive heart failure (CHF) in the hospital care setting.

The intent of an oral hBNP is to have a product available for chronic use, rather than only for acute use for a number of potential indications, including early-stage heart failure patients. This will herald a new paradigm for potentially multiple indications in cardiovascular therapy.

Also earlier this year, Nobex conducted preclinical exploratory studies with Mayo Clinic, using a modified human brain-type natriuretic peptide (hBNP) delivered by oral administration. A paper on the results was published in the journal Circulation.

The paper reports, for the first time, that the Nobex-modified hBNP had a significant reduction in mean arterial pressure (MAP) and increased blood levels of a second messenger called cyclic GMP in an animal model.

The study also showed the activity of the hBNP is maintained and its oral bioavailability is several times greater than the unmodified natural peptide at the same oral dose and the same liquid formulation.