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Adenosine Therapeutics Announces Collaboration With Ortho-McNeil Pharmaceutical, Inc. To Develop Novel Oral Drugs For Diabetes And Asthma


10/19/2005 5:12:24 PM

CHARLOTTESVILLE, Va., Jan. 19 /PRNewswire/ -- Adenosine Therapeutics, LLC, announced today it has signed a worldwide collaboration and option agreement with Ortho-McNeil Pharmaceutical, Inc. to further develop A2B adenosine receptor antagonist compounds for the potential treatment of Type II diabetes, asthma and other disorders.

"This relationship will accelerate the clinical development of certain of our family of Adenosine Receptor antagonists that have the potential to offer new oral treatment options for patients suffering from Type II diabetes and asthma," said Robert S. Capon, Chief Executive Officer and co-founder of Adenosine Therapeutics. "Collaborating with Ortho-McNeil allows Adenosine Therapeutics to complement its internal research capabilities with those of this well-respected leader in pharmaceuticals."

Under the terms of the transaction Ortho-McNeil will obtain a one-year exclusive option to selected Adenosine Receptor Antagonists discovered by Adenosine Therapeutics. In connection with this option, Johnson & Johnson Pharmaceutical Research and Development, LLC (J&JPRD), an affiliate of Ortho- McNeil, will fund a one-year research collaboration under which J&JPRD and Adenosine Therapeutics will conduct joint research to further optimize promising drug candidates from the program. Upon Ortho-McNeil's decision to exercise its option to obtain exclusive, worldwide rights to the program, Adenosine Therapeutics will receive an option fee and one additional year of research support. If the collaboration reaches its full potential Adenosine Therapeutics would receive additional payments based on achieving specific clinical milestones, and royalties based on net sales of products.

About Adenosine Therapeutics

Adenosine Therapeutics focuses on the discovery and development of novel pharmaceutical products that target adenosine receptor subtypes. Candidates for drug development are identified and screened using the company's state-of- the-art adenosine receptor screening platform technology. To further strengthen its position around the adenosine A2B receptor, Adenosine Therapeutics has obtained exclusive rights to certain intellectual property conceived by Kathryn LaNoue, Ph.D. of Penn State University, and Joel Linden, Ph.D. of the University of Virginia. Dr. LaNoue and Dr. Linden jointly discovered that adenosine A2B receptor antagonists lower blood glucose in insulin resistant animals. Research by Dr. Linden, a co-founder of Adenosine Therapeutics, and other investigators also have experimental data suggesting that A2B receptor antagonists may be effective for the treatment of asthma.

Adenosine Therapeutics was founded with the goal of taking new adenosine- receptor selective drugs into clinical trials for a broad range of potential indications. These drug indications include inflammatory indications, sepsis, heart attack, ischemia-reperfusion injury, vascular injury, spinal cord injury, COPD, asthma, diabetes, inflammatory bowel disease, retinopathy, epilepsy, Parkinson's disease, and site-specific angiogenesis. The company's most advanced drug development program is in Phase II clinical development. For more information on Adenosine Therapeutics, visit our web site at http://www.adenrx.com/.

Adenosine Therapeutics, LLC

CONTACT: Robert Capon of Adenosine Therapeutics, LLC, +1-434-220-9400,ext. 201


Read at BioSpace.com


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