GAITHERSBURG, Md. and BERLIN, Sept. 30 /PRNewswire-FirstCall/ -- GenPat77 announced today that it has granted MedImmune, Inc. an exclusive license to GenPat77's proprietary TIRC7 program, currently in preclinical development. The collaboration calls for the identification and development of biologics and small molecules targeting TIRC7, a molecule that is implicated in immune regulation, and therefore may be useful in the treatment of rheumatoid arthritis, multiple sclerosis and other immunological diseases.
Under the terms of the agreement, MedImmune will be responsible for all clinical development, manufacturing and worldwide commercialization of any products resulting from the program. GenPat77 will receive an upfront payment and funding for associated preclinical research and development activities. GenPat77 also will receive future milestone payments and royalties based on the successful development, filing, registration and marketing of products resulting from the program.
"We are very excited about this collaboration," said Dr. Nalan Utku, president and chief executive officer of GenPat77. "MedImmune is a leading biotechnology company with significant experience in the development of biologics. Future treatments targeting TIRC7 will be designed to address unmet needs in the field of immune disorders."
"Entering into this agreement with GenPat77 is very important to MedImmune as we seek to expand the breadth and depth of our product pipeline with promising targets and technologies," stated Edward T. Mathers, MedImmune's vice president of corporate development.
TIRC7, which is expressed on subsets of T and B cells, is a molecule recently identified by GenPat77's founding scientist. Analysis of the phenotype of TIRC7 in null mice and studies with anti-TIRC7 antibodies indicate that TIRC7 may play a critical role in the negative regulation of immune responses.
About GenPat77 AG
GenPat77, based in Berlin, Germany, is a pharmaceutical company focused on research and development of innovative immune modulatory therapeutics. Based on a fundamental understanding of the human immune system, GenPat77 develops novel biopharmaceutical drugs to address significant unmet medical needs in diseases such as rheumatoid arthritis, multiple sclerosis, inflammatory bowel disease, and transplant rejection. The company was founded in Berlin (1998) based on exclusively licensed intellectual property rights on immune related targets from Brigham and Women's Hospital, an affiliate Hospital of Harvard Medical School, MA, Boston, USA. For further information visit the company's website at http://www.genpat77.com/.
About MedImmune, Inc.
MedImmune strives to provide better medicines to patients, new medical options for physicians, rewarding careers to employees, and increased value to shareholders. Dedicated to advancing science and medicine to help people live better lives, the company is focused on the areas of pediatric infectious diseases, cancer and inflammatory diseases. With approximately 1,900 employees worldwide, MedImmune is headquartered in Maryland. For more information, visit the company's website at http://www.medimmune.com/.
This announcement may contain, in addition to historical information, certain forward-looking statements that involve risks and uncertainties. Such statements reflect management's current views and are based on certain assumptions. Actual results could differ materially from those currently anticipated as a result of a number of factors, including risks and uncertainties discussed in MedImmune's filings with the U.S. Securities and Exchange Commission. The company is developing several products for potential future marketing. There can be no assurance that such development efforts will succeed, that such products will receive required regulatory clearance or that, even if such regulatory clearance is received, such products will ultimately achieve commercial success.
CONTACT: Media: Jamie Lacey, +1-301-398-4035, or Investors: Peter Vozzo,+1-301-398-4358, or John Filler, +1-301-398-4086, all of MedImmune, Inc.; orMedia and Investors: Fritz Kopitzki, +49-302-462-6680, of GenPat77 AG