Drug manufacturer Dermapharm Holding SE invests millions in CORAT Therapeutics GmbH.
With its own development, production facilities as well as distribution capabilities, Dermapharm Holding SE is a strong industrial partner for the further development of the SARS-CoV-2 antibody COR-101, which is currently in the clinical phase.
Braunschweig, July 07, 2021 – For the fast and efficient delivery of its innovative drug COR 101 against COVID-19, CORAT Therapeutics GmbH announces the partnership with Dermapharm Holding SE, a manufacturer of branded pharmaceuticals. The partnership is intended to accelerate clinical development and facilitate the expansion of COR-101 production to make the drug available to patients more quickly.
CORAT Therapeutics GmbH, founded in May 2020, holds patents of antibodies for the treatment of human infectious diseases. Currently, the neutralizing antibody COR-101, for the treatment of hospitalized COVID-19 patients with moderate to severe symptoms, is in Phase Ib/II clinical trials. In animal studies COR-101 reduced SARS-CoV-2 viral load in the lungs by more than 99% within the first three days.
"Currently, there is no approved, effective, antiviral-specific treatment for hospitalised patients with moderate to severe COVID-19 symptoms. While vaccines will remain the most important tool in fighting the pandemic, they will not be able to completely prevent the occurrence of severe cases of the disease. Therefore, this therapy is another tool that is needed. By acquiring the equity investment in CORAT we are not only providing the funds needed to accelerate the development process, but also our expertise in manufacturing antibody drugs," said Dr Hans-Georg Feldmeier, CEO of Dermapharm Holding SE, about the acquisition.
"We are happy to have found a strong and strategic partner in Dermapharm. Dermapharm will share with us their regulatory, technical and scientific expertise to help us successfully realise our ideas within the team," said Dr Andreas Herrmann, CEO of CORAT.
The parties have agreed to keep the purchase price for the new shares confidential.