Melodia Therapeutics launched with in-licensing deal

MDI-0151 is a clinical candidate compound from the Alivexis’ discovery program MOD-A, focused on Cathepsin C inhibition. Cathepsin C is an enzyme responsible for the activation of a group of proteases that play an important role in the destruction of tissues by neutrophils. As inhibition of Cathepsin C is believed to have little effect on the immune function of neutrophils, MDI-0151 may effectively treat various immune and inflammatory diseases while not compromising the immune system.

Melodia will rapidly initiate IND-enabling activities for MDI-0151 to prepare for a Phase 1/Phase 2a study in various refractory inflammatory diseases caused by excessive activation of neutrophils, such as ANCA-associated Vasculitis and several other relevant diseases in the context of neutrophils. Patients suffering from these diseases have a high unmet medical need. Alivexis and Melodia will leverage their respective expertise in drug discovery research and development with the aim of obtaining clinical Proof of Concept in these indications.

Under the terms of the agreement, Alivexis grants Melodia worldwide rights to develop, manufacture, and commercialize MDI-0151 and will receive from Melodia an upfront payment and development and sales milestone payments totaling up to approximately $275 million (JPY 42.7 billion1), and will be entitled to receive royalties on net sales of any marketed product. In addition, Alivexis is eligible to receive a number of warrants to subscribe for Melodia's common shares.

Melodia’s founding shareholder Forty51 Ventures was founded in April 2022 as company builder and early-stage investor in Basel. Forty51 has already launched several companies including Mosanna Therapeutics, Mysthera Therapeutics and Allegria Therapeutics – all based in Basel. The Forty51 team commented on the deal: “We are extremely pleased to in-license and continue the development of MDI-0151. We consider that this asset from Alivexis has best-in-class, blockbuster potential. Melodia aims to develop the program in a variety of underserved indications in the field of immunology. Further announcements will follow shortly as Melodia advances this program expeditiously.”