Probiodrug AG Sells its INGENOtyping™ Business to Helmholtz Zentrum München
Halle/Saale and Munich, June 4, 2008 -- Probiodrug AG, a biopharmaceutical company focusing on the development of small molecule inhibitors for the treatment of inflammatory and neurodegenerative diseases, today announced the sale of its INGENOtyping™ fee-for-service business to the Helmholtz Zentrum München - German Research Center for Environmental Health. The business was originally obtained through the acquisition of Munich-based Ingenium Pharmaceuticals in 2007.
The deal comprises Ingenium’s INGENOtyping™ technology platform for the generation of mouse models. Financial details were not disclosed.
“We see the acquisition of the mouse models as a substantial expansion of our technology base”, stated Helmholtz Zentrum München. “In our German Mouse Clinic at Helmholtz Zentrum München we are already performing the large scale standardized and comprehensive phenotypic analysis of mouse mutants from various sources, and the INGENOtyping™ business is ideally complementing our activities in this area as well as our comprehensive projects in mutagenesis.”
“The INGENOtyping™ technology enables the creation of a huge variety of genetic alterations, including classical knockout mouse models with unprecedented speed and dependability”, said Hendrik Liebers, CFO of Probiodrug. “However the full exploitation of the broad applicability of this technology is outside of our focus. Therefore we decided to sell our INGENOtyping™ business and we are happy that we have found a very competent partner who will make the most of our comprehensive mutagenized DNA and sperm library.”
About Probiodrug AG
Probiodrug is a biopharmaceutical company focused on the development of innovative small molecule drugs for the treatment of metabolic, neuronal, inflammatory, and autoimmune diseases. In these areas, Probiodrug is focusing on innovative targets with the prospect of first and best in class therapeutics.
The Company has a dominant position in the area of glutaminyl cyclase (QC) inhibition, an enzyme central for the pathogenesis of Alzheimer’s Disease (AD). In this field, Probiodrug is pioneering a completely novel therapeutic approach. In addition, the company is pursuing further novel approaches in the area of inflammatory diseases.
Probiodrug’s core expertise is based on its long-standing, unique experience with the structure and function elucidation of enzymes central for the maturation of hormones. The company has pioneered the field of DP4-inhibition for the treatment of type-2 diabetes. Compounds and technology patents of its DP4 (dipeptidyl peptidase 4) program in diabetes were licensed to various pharmaceutical companies. In 2004, all metabolic assets were sold to (OSI) Prosidion. The first drug based on Probiodrug’s technologies reached the market in late 2006. The proceeds of these transactions have been reinvested to fund the novel approach for the treatment of AD.
The Company was founded in 1997 by Dr Konrad Glund and Prof Dr Hans-Ulrich Demuth and has raised a total of $52 million. In 2007, it acquired Ingenium Pharmaceuticals. The company is located in Halle, Germany, and has a subsidiary in Martinsried/Munich, Germany. For more information, please visit www.probiodrug.de.
About Helmholtz Zentrum München
Research at Helmholtz Zentrum München - German Research Center for Environmental Health focuses on environmental health. We concentrate on diseases related to the environment such as lung diseases and illnesses of the immune system, and we contribute to the elucidation of the mechanisms of neurodegenerative diseases, cancer, diabetes and other chronic diseases.
The origins and courses of these diseases are influenced by the interaction of personal risk factors, life-style and environmental conditions. We analyze interactions between genetic disposition, biological systems and environmental factors for the development of new, individualized approaches in prevention, diagnostics and causal therapy as characteristics of future medicine.
An important goal is the link between basic research and clinical application, which we pursue with a research approach across indications and disciplines.
About INGENOtyping™
Ingenium`s INGENOtyping™ technology is a high-speed method for producing mouse or rat models that carry unique genetic alterations in any target gene of interest. These models include knockouts as well as more subtle functional alterations, such as increased and reduced gene target activity. The INGENOtyping™ technology is based on a proprietary chemical mutagenesis procedure.
Contact:
Dr Konrad Glund, CEO
Probiodrug AG
Weinbergweg 22
D-06120 Halle/ Saale
Germany
Tel.: +49 345 55599-00
Fax: +49 345 55599-01
Mail: konrad.glund@probiodrug.de