CHEMOCENTRYX, INC.

(CCXI)
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Delayed Nasdaq  -  05/20 04:00:00 pm EDT
22.79 USD   +3.36%
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ChemoCentryx Announces EU Approval of TAVNEOS (avacopan) for the Treatment of ANCA-Associated Vasculitis

01/20/2022 | 09:33am EDT

SAN CARLOS, Calif. - ChemoCentryx, Inc., (Nasdaq: CCXI), announced that TAVNEOS (avacopan) has been approved within the European Union in combination with a rituximab or cyclophosphamide regimen for the treatment of adult patients with severe, active granulomatosis polyangiitis (GPA) or microscopic polyangiitis (MPA), the two main forms of ANCA-associated vasculitis. This approval follows the U.S. Food and Drug Administration (FDA) approval of TAVNEOS in October 2021. TAVNEOS will receive marketing authorization in all member states of the European Union, as well as in Iceland, Liechtenstein and Norway.

'European Union approval of TAVNEOS represents the third major global sector to recognize the value of this long-awaited new treatment for the debilitating and often deadly disease of ANCA-associated vasculitis,' said Thomas J. Schall, Ph.D., President and Chief Executive Officer of ChemoCentryx. 'We congratulate our alliance partner, Vifor Pharma, for this significant achievement as we welcome the opportunity for our alliance to serve ANCA patients.'

'This is a significant step forward for patients in Europe living with this systemic condition,' said Prof. David Jayne, Professor of Clinical Autoimmunity, University of Cambridge. 'They will now have available a new class of medication that meets major unmet medical needs in the treatment of ANCA-associated vasculitis.'

As part of their Kidney Health Alliance, ChemoCentryx retains all rights for TAVNEOS (avacopan) for orphan and renal diseases in the United States and Vifor Pharma has rights to commercialize avacopan in the rest of the world. Vifor will pay ChemoCentryx royalties in the teens to the mid-20s percent on potential ex-U.S. sales of one aggregate net sales line.

About TAVNEOS (avacopan)

TAVNEOS (avacopan), approved by the FDA as an adjunctive treatment of ANCA-associated vasculitis, is a first-in-class, orally-administered small molecule that employs a novel, highly targeted mode of action in complement-driven autoimmune and inflammatory diseases. While the precise mechanism in ANCA vasculitis has not been definitively established, TAVNEOS, by blocking the complement 5a receptor (C5aR) for the pro-inflammatory complement system fragment known as C5a on destructive inflammatory cells such as blood neutrophils, is presumed to arrest the ability of those cells to do damage in response to C5a activation, which is known to be the driver of ANCA vasculitis. TAVNEOS's selective inhibition of only the C5aR is believed to leave the beneficial C5a pathway through the C5L2 receptor functioning normally.

ChemoCentryx is also developing TAVNEOS for the treatment of patients with C3 glomerulopathy (C3G), hidradenitis suppurativa (HS) and Lupus Nephritis (LN). The U.S. Food and Drug Administration granted TAVNEOS orphan drug designation for ANCA-associated vasculitis and C3G. The European Commission has granted orphan medicinal product designation for TAVNEOS for the treatment of two forms of ANCA-associated vasculitis: microscopic polyangiitis and granulomatosis with polyangiitis (formerly known as Wegener's granulomatosis), as well as for C3G. TAVNEOS has not been approved for indications discussed as in development, and the safety and efficacy of those uses has not been established.

TAVNEOS (avacopan) is indicated in the United States as an adjunctive treatment of adult patients with severe active anti-neutrophil cytoplasmic autoantibody (ANCA)-associated vasculitis (granulomatosis with polyangiitis [GPA] and microscopic polyangiitis [MPA]) in combination with standard therapy including glucocorticoids. TAVNEOS does not eliminate glucocorticoid use.

About ChemoCentryx

ChemoCentryx is a biopharmaceutical company commercializing and developing new medications for inflammatory and autoimmune diseases and cancer. ChemoCentryx targets the chemokine and chemoattractant systems to discover, develop and commercialize orally-administered therapies. In the United States, ChemoCentryx markets TAVNEOS (avacopan), the first approved orally-administered inhibitor of the complement 5a receptor as an adjunctive treatment for adult patients with severe active ANCA-associated vasculitis. TAVNEOS is also in late-stage clinical development for the treatment of severe Hidradenitis Suppurativa and C3 glomerulopathy (C3G). Additionally, ChemoCentryx has early-stage drug candidates that target chemoattractant receptors in other inflammatory and autoimmune diseases and in cancer.

Forward-Looking Statements

ChemoCentryx cautions that statements included in this press release that are not a description of historical facts are forward-looking statements. Words such as 'may,' 'could,' 'will,' 'would,' 'should,' 'expect,' 'plan,' 'anticipate,' 'believe,' 'estimate,' 'intend,' 'predict,' 'seek,' 'contemplate,' 'potential,' 'continue' or 'project' or the negative of these terms or other comparable terminology are intended to identify forward-looking statements. These statements include the Company's statements regarding the achievement of anticipated goals and milestones and whether TAVNEOS will be available in key markets throughout the world. The inclusion of forward-looking statements should not be regarded as a representation by ChemoCentryx that any of its plans will be achieved. Actual results may differ from those set forth in this release due to the risks and uncertainties inherent in the ChemoCentryx business and other risks described in the Company's filings with the Securities and Exchange Commission ('SEC'). Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and ChemoCentryx undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof. Further information regarding these and other risks is included under the heading 'Risk Factors' in ChemoCentryx's periodic reports filed with the SEC, including ChemoCentryx's Annual Report on Form 10-K filed with the SEC on March 1, 2021 and its other reports which are available from the SEC's website (www.sec.gov) and on ChemoCentryx's website (www.chemocentryx.com) under the heading 'Investors.' All forward-looking statements are qualified in their entirety by this cautionary statement. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.

Contact:

Susan M. Kanaya

Executive Vice President

Chief Financial and Administrative Officer

E: investor@chemocentryx.com

Media

Stephanie Tomei

T: 408.234.1279

E: media@chemocentryx.com

Investors

Burns McClellan

Lee Roth

T: 212.213.0006

E: lroth@burnsmc.com

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
CHEMOCENTRYX, INC. 3.36% 22.79 Delayed Quote.-37.41%
VIFOR PHARMA AG 1.47% 192.8 Delayed Quote.17.10%
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Financials (USD)
Sales 2022 69,4 M - -
Net income 2022 -133 M - -
Net cash 2022 243 M - -
P/E ratio 2022 -11,9x
Yield 2022 -
Capitalization 1 622 M 1 622 M -
EV / Sales 2022 19,9x
EV / Sales 2023 6,91x
Nbr of Employees 178
Free-Float 86,0%
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Managers and Directors
Thomas J. Schall Chairman, President & Chief Executive Officer
Susan M. Kanaya Chief Financial Officer, Secretary & Director
Rita I. Jain Chief Medical Officer, Executive Director & EVP
Sangita Ghosh Senior Vice President-Technical Operations
Tausif Butt Chief Operating Officer & Executive Vice President
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