FLORHAM PARK, N.J. and SAN DIEGO, Oct. 13, 2015 /PRNewswire/ -- BASF Corporation (BASF) and Mast Therapeutics, Inc. (NYSE MKT: MSTX) have agreed to collaborate in the development of a higher purity poloxamer 188. Currently, excipient-grade poloxamer 188 NF, marketed by BASF under the Kolliphor® P188 brand, is a polymer used in a variety of pharmaceutical and biological applications, such as a shear protectant in cell culture production. Poloxamer 188 is the starting material for Mast's lead product candidate. Under the agreement between BASF and Mast, BASF will develop a higher purity poloxamer 188 and provide Mast with clinical quantities of the new material to be used for specific therapeutic indications.
"The work we are doing with Mast is one example of our collaborations with pharmaceutical companies to develop high purity poloxamers for a variety of applications for the pharmaceutical and biotechnology value chains," said Daniele Piergentili, Head of Global Marketing and R&D, BASF Pharma Ingredients and Services. "Our work with Mast will enable them to develop new products intended to treat patients with life-threatening illnesses."
"As the leader in the use of poloxamer compounds to treat human disease, we are pleased to be working with BASF, the world's leading chemical company to enhance the purity of our starting material. We believe that our relationship with BASF will enable us to develop an improved product with application in a variety of therapeutic indications," said Brian M. Culley, Chief Executive Officer of Mast. "We already have been successful in advancing a second-generation poloxamer 188, known as vepoloxamer, which is being tested in a 388-patient clinical trial in sickle cell disease, and we are excited to explore further improvements in this class of compounds to treat other serious or life-threatening conditions, such as heart failure and stroke."
"BASF is committed to innovate with companies such as Mast in order to achieve the best possible solutions for our partners and ultimately for their patients" said Scott Thomson, Head of BASF Pharma Ingredients and Services.
In addition to poloxamer 188 NF, BASF also offers comprehensive solutions to the pharmaceutical industry for both small and large molecule formulation needs.
About Mast Therapeutics, Inc.
Mast Therapeutics, Inc. is a publicly traded biopharmaceutical company headquartered in San Diego, California. The Company is leveraging its molecular adhesion and sealant technology (MAST) platform, derived from over two decades of clinical, nonclinical and manufacturing experience with purified and non-purified poloxamers, to develop vepoloxamer (also known as MST-188), its lead product candidate, for serious or life-threatening diseases and conditions typically characterized by impaired microvascular blood flow and damaged cell membranes. The Company is also developing AIR001, a sodium nitrite solution for inhalation via nebulizer, for the treatment of heart failure with preserved ejection fraction (HFpEF).
Vepoloxamer is an investigational new drug being tested in a pivotal Phase 3 study called EPIC for the treatment of vaso-occlusive crisis in patients with sickle cell disease. The Company also plans to initiate a Phase 2 study of vepoloxamer in chronic heart failure later this month. AIR001 is an investigational new drug being tested in two institution-sponsored Phase 2a studies in patients with HFpEF. More information can be found on the Company's web site at www.masttherapeutics.com. (Twitter: @MastThera)
Mast Therapeutics™ and the corporate logo are trademarks of Mast Therapeutics, Inc.
BASF Corporation, headquartered in Florham Park, New Jersey, is the North American affiliate of BASF SE, Ludwigshafen, Germany. BASF has more than 17,000 employees in North America, and had sales of $20.6 billion in 2014. For more information about BASF's North American operations, visit www.basf.us.
At BASF, we create chemistry – and have been doing so for 150 years. Our portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. As the world's leading chemical company, we combine economic success with environmental protection and social responsibility. Through science and innovation, we enable our customers in nearly every industry to meet the current and future needs of society. Our products and solutions contribute to conserving resources, ensuring nutrition and improving quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF had sales of over €74 billion in 2014 and around 113,000 employees as of the end of the year. Further information on BASF is available on the Internet at www.basf.com.
Forward Looking Statements
Statements included in this press release that are not a description of historical fact are forward-looking statements that are based on Mast Therapeutics' current expectations and assumptions and involve a number of risks and uncertainties. Such forward-looking statements include statements about the development of new therapeutic products and their potential to treat serious or life-threatening conditions, and the Company's rights, expectations and future activities related to the development of such products. For such statements, Mast claims the protection of the Private Securities Litigation Reform Act of 1995. Actual events or results may differ materially from the Company's expectations. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, the following: risks related to relying on collaborative arrangements and performance of third parties; the risk that collaborative arrangements may be modified or terminated at a time or in a manner that could cause the Company to delay or discontinue a development program, or otherwise harm its business strategy and/or prospects; risks inherent in developing and commercializing drug products, including clinical development, regulatory, manufacturing and supply issues, including the potential for significant delays or discontinuation of one or more programs; the risk that investigational drugs may not meet safety, efficacy or other regulatory requirements or otherwise be suitable for further research and development or commercialization; Mast's ability to obtain patents, or exclusive rights to use third-party patents, or otherwise adequately protect its products from competitors and the risk that Mast's products or manufacturing processes for its products may infringe the proprietary rights of others; the Company's ability to obtain adequate funding for its operations on a timely basis or on acceptable terms, or at all. Additional factors that could cause actual results to differ materially from those stated or implied by Mast's forward-looking statements are disclosed in the Company's filings with the Securities and Exchange Commission.
You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date when made. Mast Therapeutics does not intend to revise or update any forward-looking statement set forth in this press release to reflect events or circumstances arising after the date when made, except as may be required by law.
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SOURCE Mast Therapeutics, Inc.
Mast Therapeutics, Inc. Contact, Ioana Hone, Tel.: (858) 552-0866 Ext. 303, Email: firstname.lastname@example.org, or BASF Contact, Ron Barry, Tel.: (973) 245-7095, Email: email@example.com