BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

Probiodrug AG Divests Its CDK9 Inhibitor Program To AstraZeneca PLC (AZN) For Undisclosed Price


1/3/2014 7:01:22 AM

free biotech news Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!



HALLE/SAALE, Germany--(BUSINESS WIRE)-- Probiodrug AG (Probiodrug) announced today the transfer of its experimental cyclin-dependent kinase 9 (CDK9) inhibitor program to AstraZeneca (LSE: AZN, NYSE: AZN). The transaction includes the sale to AstraZeneca of a lead molecule and back-up compounds with the associated intellectual property. CDK9, which has been implicated in the transcriptional regulation of genes involved in proliferation and inflammation, is a promising target for the treatment of both cancer and inflammatory diseases.

“AstraZeneca is an excellent party to take over our promising CDK9 inhibitor program,” commented Hendrik Liebers, CFO of Probiodrug. “This transaction is consistent with our strategy to focus our resources exclusively on Alzheimer’s disease.”

Cyclin-dependent kinases (CDKs) are critical regulators of cell cycle progression and RNA transcription. A variety of genetic events cause overactivity of the cell cycle CDKs in cancer and their inhibition can lead to both cell cycle arrest and apoptosis.

Susan Galbraith, vice president and head of the Oncology iMed unit at AstraZeneca, added, “We are particularly interested in the development of targeted therapies for oncology, such as CDK9. We believe that Probiodrug’s CDK9 inhibitor program, while early stage, shows potential and we look forward to continuing its development.”

Financial terms of the asset purchase were not disclosed. Probiodrug was advised by UP Biotech Management AG in this transaction.

About Probiodrug AG

Probiodrug is a biopharmaceutical company dedicated to the discovery and development of novel therapeutic solutions to treat people with Alzheimer’s disease. The Company has medical use and composition of matter patents related to the inhibition of glutaminyl cyclase, providing the Company with a dominant position in this field of research. Probiodrug is backed by institutions such as BB Biotech, Edmond de Rothschild Investment Partners, Goodvent/IBG, HBM, TVM Capital, Life Sciences Partners, Biogen Idec New Ventures, CFH Group, funds managed by Wellington Management and private investors.

Probiodrug's core capabilities are based on its long-standing expertise in the elucidation of the structure and function of enzymes which play a central role in the maturation of hormones. Probiodrug was founded in 1997 by Prof. Dr. Hans-Ulrich Demuth and Dr. Konrad Glund. For more information, please visit www.probiodrug.de.

About AstraZeneca

AstraZeneca is a global, innovation-driven biopharmaceutical business that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of cardiovascular, metabolic, respiratory, inflammation, autoimmune, oncology, infection and neuroscience diseases. AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide. For more information please visit: www.astrazeneca.com

Contact:

Probiodrug Contact:

Dr. Konrad Glund, CEO +49 (345) 555-9900

email: konrad.glund@probiodrug.de

or

AstraZeneca Media Enquiries

Esra Erkal-Paler +44 20 7604 8030 (UK/Global)

or

Vanessa Rhodes +44 20 7604 8037 (UK/Global)

or

Ayesha Bharmal +44 20 7604 8034 (UK/Global)

or

Michele Meixell +1 302 885 2677 (US)

or

Jacob Lund +46 8 553 260 20 (Sweden)

or

AstraZeneca Investor Enquiries

Karl Hård, +44 20 7604 8123

mob: +44 7789 654364

or

Colleen Proctor, + 1 302 886 1842

mob: +1 302 357 4882

or

Anthony Brown +44 20 7604 8067

mob: +44 7585 404943

or

Jens Lindberg +44 20 7604 8414

mob: +44 7557 319729

Help employers find you! Check out all the jobs and post your resume.


Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES