Almirall Takes Option on Bioniz Therapeutics

Almirall, a dermatology-focused drugmaker based in Barcelona, Spain, has taken an option to acquire US biotech Bioniz Therapeutics as part of a deal that would give it full global rights to BNZ-1, a multicytokine inhibitor that selectively blocks the activity of three cytokines of the same family: IL-2, IL-9 and IL1-15.

Headquartered in Irvine, California, Bioniz develops first-in-class peptide treatments that selectively inhibit multiple cytokines to treat immuno-inflammatory diseases and T-cell malignancies.

The Barcelona drugmaker has agreed to pay Bioniz $15 million for an initial cooperation and an additional $47 million if it exercises the option. In the latter case, the two companies would enter a broader research agreement within a newly established Bioniz NewCo, using the multiple cytokine inhibitor platform to develop a targeted three IND-approved candidates.

With access to the Bioniz portfolio, Almirall said it could implement its strategy to develop new treatment methods aimed at addressing “highly underserved diseases” within the fields of oncodermatology and immunodermatology.

During the initial period, Bioniz will complete its ongoing phase 1/2 clinical trials in refractory Cutaneous T-cell Lymphoma (CTCL), an orphan disease with high unmet medical need, and alopecia areata, an autoimmune hair disorder with no approved treatments as yet.

Future plans could include a collaboration between the two companies to define future CTCL development activities. If Almirall opts in, Bioniz will spin off assets not related to BNZ-1 as well as its proprietary platform technology to NewCo, and Almirall will continue with the development of BNZ-1.

In the years after opting in, Almirall would make additional payments upon the achievement of certain development, regulatory and commercial milestones.