Hoersholm – May 26, 2010: 7TM Pharma has received an undisclosed milestone payment in its research collaboration with Ortho-McNeil-Janssen Pharmaceuticals, Inc. (“Ortho-McNeil”). The achievement of this milestone represents the continued progression of a compound from the asthma and allergy collaboration.
Christian E. Elling, Vice President of 7TM Pharma, commented: “We are very pleased with the progression of this collaboration in such an important therapeutic area as asthma and allergy. The selection of this clinical candidate marks an important step in bringing a potentially valuable new treatment to patients to help them better manage their disease. This collaboration is an example of our strategy on seeking global pharmaceutical partners for further development of our programs”.
Asthma is a chronic disease characterized by recurrent attacks of breathlessness and wheezing and the disease is the most common chronic disease among children. It currently affects 300 million people worldwide (WHO). Allergy occurs when the body has an abnormal reaction to an everyday substance (allergen). Allergy is one of the main causes for developing asthma and is often underestimated, under diagnosed and under treated, despite its high prevalence and effects on the quality of life. Symptoms vary from mild to severe and even fatal.
About 7TM Pharma
7TM Pharma is a biotech company focusing on the clinical development of drugs with a primary therapeutic focus on obesity, gastrointestinal diseases and inflammation. 7TM Pharma’s inflammation program is exclusively licensed to Ortho-McNeil. 7TM Pharma’s approach is to actively seek licensing partners during early clinical development. 7TM’s investors include Novo A/S, Alta Partners, LD Pensions, SWIP, Index Ventures, Sofinnova Capital, SR One, Global Life Science Ventures and GIMV. For more information on 7TM Pharma, please visit www.7tm.com.
