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Serodus AS Expands Cardiovascular Drug Candidate Portfolio Through Phlogo Merger


7/10/2013 10:21:47 AM

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OSLO, Norway--(BUSINESS WIRE)--Serodus ASA (Oslo Axess: SER), a fast-growing Norwegian cardiovascular biopharma today announced that, following approval by an EGM, it is to merge with Danish peptide specialist Phlogo ApS. The merger will accelerate Serodus’ commercialisation and development strategy with the addition of two first-in-class drug candidates SER130, an IL-4 partial receptor agonist for Acute Myocardial Infarction (AMI) and SER140, an IL-1 receptor antagonist for Type 2 diabetes.

Eva Steiness, CEO of Serodus ASA commented: "We are delighted that our pipeline will grow through the merger with Phlogo ApS. Phlogo’s peptides SER130 and SER140 come from internationally-recognized researchers at Copenhagen University who have been concentrating on mimicking and inhibiting endogenous inflammatory cascades. SER130 improves our portfolio in Serodus’ core cardiovascular therapeutic drug development field by focusing on the severe tissue damage, which occurs after a heart attack. SER140 is also an interesting anti-inflammatory drug candidate, but targeted at diabetes, which is outside Serodus’ main focus, and we will therefore be seeking a partner to continue its development.”

Torben Skarsfeldt, CEO of Phlogo ApS commented

“I’m extremely pleased that we have been able to come to an agreement with Serodus ASA to take over Phlogo ApS and its assets,” said Torben Skarsfeldt, CEO of Phlogo ApS. “Phlogo has generated very interesting data on both compounds, but we were in a position where the company needed additional resources to continue the development. We are confident that Serodus can bring these projects forward.”

Contacts

Serodus

Eva Steiness

CEO

eva.steiness@serodus.com

or

Media:

Richard Hayhurst, +44 7711 821 527

Richard@richardhayhurstassociates.com

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