SOUTH SAN FRANCISCO, Calif., and OXFORD, England, Aug. 30 /PRNewswire-FirstCall/ -- Anesiva, Inc. and Particle Therapeutics Limited today announced that they have entered into an agreement granting Particle Therapeutics a specific-use license to incorporate Anesiva's drug delivery technology into its needle-free, intradermal delivery system for glucagon, a hormone commonly used for the treatment of hypoglycemia associated with Type 1 and Type 2 diabetes.
"This agreement exemplifies the potential of our technology to transform the delivery of proteins, peptides and small molecules in a clinically meaningful way that is also safer, more comfortable and more convenient," said John P. McLaughlin, chief executive officer of Anesiva. "We intend to seek other opportunities for licensing this important platform technology."
"Patients experiencing a hypoglycemic condition may lose consciousness, and if not treated quickly, can suffer short and long-term cerebral damage," remarked Fred Cornhill, Director of Particle Therapeutics. "Current methods of treating diabetic hypoglycemia require the mixing of glucagon powder with a sterile saline solution, followed by needle injection. At present, an estimated 1-1.5 million kits with glucagon powder are sold annually in the U.S. and Europe. Those with Type 1 diabetes typically have at least one to eight such events per year, requiring intervention of another person or summoning of medical assistance. Type 2, insulin dependent diabetes patients have fewer incidents, but, with lower glycemic targets, the incidence of hypoglycemia, requiring third party intervention is increasing. Particle Therapeutics' needle-free device provides a system that can be used quickly by those without special training and without the problems associated with needles."
Under the terms of the license agreement, Anesiva will receive an undisclosed up-front payment, along with milestone payments for certain key clinical and regulatory achievements, royalties on future sales, as well as royalties on revenues from any future sub-licensing of the technology by Particle Therapeutics.
About Anesiva's Drug Delivery Technology
Anesiva owns intellectual property covering the delivery of solid particles of proteins, peptides and small molecules (other than vaccines) into the skin at high velocity by pressurized gases. The technology aims to provide subcutaneous and systemic delivery of drugs without the pain and inconvenience associated with injections and needles. With Anesiva's drug delivery technology, patients may benefit from better control of their disease, reduced dosing schedules, and less pain compared to the administration of drugs with needles. Anesiva is utilizing this technology in its recently FDA-approved product Zingo(TM) (lidocaine hydrochloride monohydrate) powder intradermal injection system, 0.5 mg., for the rapid needle-free local delivery of lidocaine to reduce pain associated with venous access procedures.
About Anesiva and its Diverse Portfolio of Pain Products
Anesiva, Inc. is a late-stage biopharmaceutical company that seeks to be the leader in the development and commercialization of novel therapeutic treatments for pain. The company has one approved product and one drug candidate in development for multiple pain-related indications. On August 16, 2007, the FDA approved Anesiva's first product, Zingo. The second product in the portfolio, Adlea(TM) (formerly 4975), has been shown to reduce pain after only a single administration for weeks to months in multiple settings in numerous mid-stage clinical trials for site-specific, moderate-to-severe pain. Anesiva is based in South San Francisco, CA. For more information about Anesiva's leadership in the development of products for pain management, and an overview of the clinical challenges being addressed by its product candidates, go to http://www.anesiva.com.
About Particle Therapeutics Limited
Particle Therapeutics, a spin out company of the University of Oxford, is a privately-held, UK-based company dedicated to the development, testing and commercialization of needle-free injection of glucagon in the diabetic patient with severe hypoglycemia. Other applications of Particle Therapeutics' technology may include the delivery of insulin in a selected group of patients with diabetes and other conditions. For more information on Particle Therapeutics go to http://www.particletherapeutics.com
Anesiva Forward Looking Statements
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. Forward-looking statements in this press release include matters that involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the timing and results of our clinical trials, whether Anesiva will succeed in licensing its needle-free drug technology technology for other uses; whether Anesiva can commercially release new products successfully and the degree to which these products gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release. Additional information concerning these and other risk factors is contained in Anesiva's quarterly report on Form 10-Q for the quarter ended June 30, 2007.
Anesiva undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.
Anesiva, Inc.CONTACT: Paul Goodson, Sr. Dir., Investor Relations of Anesiva,+1-650-246-6898, investors@anesiva.com; or Dr. Fred Cornhill, ExecutiveDirector of Particle Therapeutics, +011-44-1865-27474,jfcornhill@addisonmedical.com
