ExonHit Extends Strategic Collaboration with Allergan
Posted on November 02, 2011 at 02:30 AM EDT
ExonHit S.A. (Alternext: ALEHT) today announced the extension of its existing drug discovery collaboration with Allergan Sales, LLC (NYSE: AGN). The collaboration was initiated in December 2002, and extended several times. It now is further extended until December 2013. The collaboration will continue to focus on the identification, development and commercialization of drugs for the treatment of neurodegenerative diseases, pain and ophthalmology.
A clear example of success and the type of value being created within the collaboration was reported in the first half of 2010, with the sub-licensing of EHT/AGN 0001(AGN-209323) by Allergan to Bristol-Myers Squibb Company (NYSE: BMY). EHT/AGN 0001 is a Phase II, orally bio-available small molecule in clinical development for neuropathic pain. The agreement between Allergan and Bristol-Myers Squibb also encompassed EHT/AGN 0002 and associated back-up compounds.
“We are very pleased that our longstanding strategic collaboration with Allergan will continue until the end of 2013. The collaboration has created significant value for both organizations, and we are optimistic that it will continue to build upon recent successes and advance additional existing preclinical programs into clinical development,” said Loïc Maurel, CEO of Exonhit.
Detailed financial terms were not disclosed.
About Exonhit’s SpliceArray™ platform
Exonhit’s SpliceArray™ platform is a patented microarray design that incorporates a specific probe configuration, enabling an exhaustive monitoring of RNA splice variants in humans, mice and rats. The Human Genome Wide SpliceArray™ monitors known and predicted alternative RNA splicing events in close to 21,000 human genes and is used in the Company’s biomarker and target discovery process.
Exonhit (Alternext: ALEHT) is a biotech company, focused on personalized medicine, which develops targeted innovative therapeutic and diagnostic products, in oncology and Alzheimer’s disease. Exonhit has a balanced development strategy with internal development programs and strategic collaborations, in particular with Allergan.
Exonhit is headquartered in Paris, France and has a U.S. subsidiary in Gaithersburg, Maryland. The Company is listed on NYSE Alternext in Paris and is part of the NYSE Alternext OSEO innovation index. For more information, please visit http://www.exonhit.com.
This press release contains elements that are not historical facts including, without limitation, certain statements on future expectations and other forward-looking statements. Such statements are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those anticipated.
In addition, Exonhit, its shareholders, and its affiliates, directors, officers, advisors and employees have not verified the accuracy of, and make no representations or warranties in relation to, statistical data or predictions contained in this press release that were taken or derived from third party sources or industry publications, and such statistical data and predictions are used in this press release for information purposes only.
Finally, this press release may be drafted in the French and English languages. In an event of differences between the texts, the English language version shall prevail.
Hervé Duchesne de Lamotte, CFO
+33 1 53 94 52 49
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