Medivir Acquires All Rights in the Cathepsin S Project from US partner Peptimmune.STOCKHOLM, Sweden -- Medivir AB, a publicly traded pharmaceutical company based in Sweden and UK, has acquired all project rights for the development of Cathepsin S inhibitors from its former world-wide partner Peptimmune Inc. As a result of the transaction, Medivir has eliminated Peptimmune's partnership funding imbalance, and will provide Peptimmune a royalty on Medivir's future income from its Cathepsin S inhibitors. "The acquisition of the Cathepsin S project is consistent with Medivir's ambition to enhance the commercial potential of our protease inhibitor protease inhibitor (prō`tē-ās'), any of a class of drugs that interfere with replication of the AIDS virus (HIV), by blocking an enzyme (protease) necessary in the late stages of its reproduction. portfolio. The opportunity to acquire all outstanding rights without impacting Medivir's cash flow is, of course, very attractive", says Medivir's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Lars Adlersson. The project aims to develop a pharmaceutical for autoimmune and allergic disorders; based on the inhibition of the protease protease /pro·te·ase/ (pro´te-as) endopeptidase. pro·te·ase n. Any of various enzymes, including the proteinases and peptidases, that catalyze the hydrolytic breakdown of proteins. enzyme Cathepsin S. Medivir has developed several series of highly potent and selective compounds that have demonstrated efficacy in pre-clinical models of rheumatoid arthritis rheumatoid arthritis Chronic, progressive autoimmune disease causing connective-tissue inflammation, mostly in synovial joints. It can occur at any age, is more common in women, and has an unpredictable course. and multiple sclerosis. One candidate drug (CD) has already been selected and optimization of compounds is underway for selection of one or more further CDs. "This agreement allows Peptimmune to focus on our core development programs in Obesity, Multiple Sclerosis and Pemphigus Vulgaris pemphigus vul·gar·is n. Pemphigus occurring in middle age, in which cutaneous flaccid acantholytic suprabasal bullae and oral mucosal erosions are first localized but become generalized after a few months, forming blisters that break easily and are . We believe that Medivir's leadership in protease inhibitor development and resources will successfully drive the Cathepsin S project towards the market as an important therapy for autoimmune diseases Autoimmune diseases A group of diseases, like rheumatoid arthritis and systemic lupus erythematosus, in which immune cells turn on the body, attacking various tissues and organs. Mentioned in: Complement Deficiencies, Premature Menopause " commented Peptimmune's CEO Thomas Mathers. About Medivir Medivir develops pharmaceuticals for widely prevalent diseases with proteases as the target enzyme. The goal is to become a self-sustaining, profitable, research-based pharmaceutical company with proprietary products on the market. The company is located in Huddinge, Sweden and Chesterfield Research Park, Essex, England. The group comprises Medivir AB, subsidiary Medivir UK Ltd, Medivir HIV HIV (Human Immunodeficiency Virus), either of two closely related retroviruses that invade T-helper lymphocytes and are responsible for AIDS. There are two types of HIV: HIV-1 and HIV-2. HIV-1 is responsible for the vast majority of AIDS in the United States. Franchise AB and Medivir Personal AB. At the end of December 2005, the Group had 133 employees. In 1996 Medivir was listed on the O list at the Stockholm Stock Exchange The Stockholm Stock Exchange (Swedish: Stockholmsbörsen) is a stock exchange located in Stockholm, Sweden. Founded in 1863 [1] it is the primary securities exchange of the Nordic Countries. (Stockholmsborsen). Medivir's research portfolio embraces projects on hepatitis C Hepatitis C Definition Hepatitis C is a form of liver inflammation that causes primarily a long-lasting (chronic) disease. Acute (newly developed) hepatitis C is rarely observed as the early disease is generally quite mild. , labial labial /la·bi·al/ (la´be-al) 1. pertaining to a lip or labium. 2. in dental anatomy, pertaining to the tooth surface that faces the lip. la·bi·al adj. herpes, osteoporosis, rheumatoid arthritis (RA), asthma, multiple sclerosis (MS). Medivir has seven individual projects in development, of which one is entering phase III. Medivir HIV Franchise AB is focused on the development and divestment of HIV/HBV projects and examining the clinical strategy for shingles drug MIV-606. Medivir AB (publ.), Lunastigen 7, SE-141 44 Huddinge, Sweden. Phone (switchboard): +46 (0)8 5468 3100 For additional information, please see Medivir's website: www.medivir.se About Peptimmune Peptimmune, Inc. is a privately held clinical stage biotechnology company focused on utilizing both novel and proven technologies to improve the therapeutic management of chronic autoimmune and metabolic disorders. The company is developing second generation therapeutics that are expected to result in safer and more effective products for obesity, multiple sclerosis, and pemphigus vulgaris. Founded by a team of world class scientists and led by an experienced management team, Peptimmune's mission is to reduce the burden these diseases place on the individuals, their families and the healthcare system. For information, access our website at http://www.peptimmune.com. This information was brought to you by Waymaker http://www.waymaker.net |
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