Medivir Announces Janssen To Discontinue Development Of JNJ-4178 For Hepatitis C
STOCKHOLM, Sept. 11, 2017 /PRNewswire/ --
Medivir AB (Nasdaq Stockholm: MVIR) today announces that Janssen Research & Development has decided to discontinue the development of the investigational hepatitis C treatment, JNJ-4178, the triple combination of simeprevir, odalasvir and AL-335. Discontinuation of development of JNJ-4178 does not affect the ongoing partnership with Janssen on Olysio® (simeprevir), or the existing licensing agreement with Janssen in which simeprevir is included. Medivir continues to be entitled to royalties on sales of single agent simeprevir globally.
The decision to terminate the development of JNJ-4178 was made in light of increasing competition due to the availability of a number of effective therapies for hepatitis C. The ongoing phase II studies with JNJ-4178 will continue as planned, but there will be no additional development thereafter.
"Although Janssen's decision not to progress this promising treatment further is unfortunate, Medivir's focus does not change" says Christine Lind, CEO at Medivir. She continues, "We continue to develop our proprietary pipeline in oncology and look forward to completing the ongoing Phase IIa studies in osteoarthritis."
Medivir AB is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08.00 CET on 11 September 2017.
Medivir is a research-based pharmaceutical company with a focus on oncology. We have a leading competence within protease inhibitor design and nucleotide/nucleoside science and we are dedicated to develop innovative pharmaceuticals that meet great unmet medical needs. Medivir is listed on the Nasdaq Stockholm Mid Cap List.
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