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Medivir AB (MVIRb.F), Daewoong Pharmaceutical Co., Ltd. Discontinue Hepatitis B Drug Development


9/6/2013 6:54:34 AM

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Medivir: The Collaboration with Daewoong Pharmaceutical for the Development of the Hepatitis B Compound, MIV-210 Has Been Discontinued

STOCKHOLM--(BUSINESS WIRE)-- Regulatory News: Medivir AB (MVIR-B.ST) today announced that it has discontinued the development of its hepatitis B compound MIV-210 based on a joint decision with Daewoong Pharmaceutical Co. Ltd., (South Korea).

Under the terms of this collaboration agreement Daewoong has been responsible for the R&D work. MIV-210 has a demonstrably competitive antiviral activity but, like other drugs of this class, does not completely eradicate HBV. The commercial environment for HBV drugs, with the current standard of care approaching generic status, requires a robust cure profile. To achieve this cure profile would require combination with other drugs with different and new mechanisms.

“In light of the characteristics MIV-210 could offer for the treatment of Hepatitis B, we have together with our partner Daewoong decided to abandon the development activities with MIV-210”, said Maris Hartmanis, CEO, Medivir AB.

About Medivir

Medivir is an emerging research-based pharmaceutical company focused on infectious diseases. Medivir has world class expertise in polymerase and protease drug targets and drug development which has resulted in a strong infectious disease R&D portfolio. The Company’s key pipeline asset is simeprevir, a novel protease inhibitor in late phase III clinical development for hepatitis C that is being developed in collaboration with Janssen R&D Ireland. Medivir has also a broad product portfolio with prescription pharmaceuticals in the Nordics.

For more information about Medivir AB, please visit the Company’s website: www.medivir.com

Medivir is a collaborative and agile pharmaceutical company with an R&D focus on infectious diseases and a leading position in hepatitis C. We are passionate and uncompromising in our mission to develop and commercialize innovative pharmaceuticals that improve people’s health and quality of life.

This information was brought to you by Cision http://news.cision.com

Contact:

Medivir

Rein Piir, EVP Corporate Affairs & IR

Mobile: +46 708 537 292

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