Radius Announces Licensing Agreement For Ipsen Osteoporosis Proprietary Molecule BA058
CAMBRIDGE, Mass., Dec. 13 /PRNewswire/ -- Radius (formerly known as Nuvios) today announced that it entered into a licensing agreement with Ipsen through which Radius has acquired the exclusive worldwide rights to develop, manufacture and distribute the molecule BA058 (formerly known as BIM44058) and its analogs, along with rights to several Ipsen novel formulation technologies. The license is on a worldwide basis with the exception of Japan, where Ipsen previously granted an exclusive license for BA058 to the Japanese group, Teijin. Radius will pay Ipsen upfront and milestone payments linked to development and registration of the product, as well royalties calculated on a pro rata sales basis.
BA058 is an analog of PTHrP (parathyroid hormone-related protein) and is currently in Phase I clinical trials for the treatment of osteoporosis. There is increasing evidence that human PTHrP is a critical cytokine in the regulation of bone metabolism and bone mass. BA058 is related to hPTHrP and has demonstrated in preclinical testing the potential to widen the anabolic window for bone therapeutics, stimulating bone formation with a limited effect on bone resorption. This could enable improved convenience over currently available anabolic therapies, resulting in greater compliance and, ultimately, greater benefit to patients.
"BA058 has the potential to become an important new anabolic therapy for osteoporosis. We are developing it to build new bone in patients with significant bone loss, to reduce the risk of fractures. In addition, we intend to develop BA058 with more convenient dosing than is currently available for an anabolic bone therapy," said C. Richard Lyttle, PhD, President and Chief Executive Officer of Radius. "Osteoporosis is a serious public health issue, and there is a real need for new drugs that build back lost bone to complement existing osteoporosis drugs that prevent resorption and further bone loss."
"Ipsen is very pleased to partner its proprietary BA058 with the U.S.-based company, Radius," stated Jean-Luc Belingard, Chairman and CEO of the Ipsen Group. "This partnership confirms Ipsen's strategy to strengthen its growth and enhance the value of its R&D pipeline, by selecting specialist partners for its proprietary products, apart from its targeted therapeutic areas, i.e., oncology, endocrinology and neuromuscular disorders. We have selected Radius as a partner for BA058 because of its expertise in the development of advanced new therapies in osteoporosis. This collaboration once again illustrates Ipsen's unique position as a key partner in the pharmaceutical industry."
Osteoporosis is a leading cause of morbidity and mortality in elderly people worldwide. In the U.S. alone, more than 44 million men and women have osteoporosis, or low bone-mineral density. A 50-year-old woman in the U.S. has a 40 percent risk of osteoporotic fracture. Within one year of experiencing a hip fracture, a woman has a 10 percent to 20 percent chance of mortality. This means that a woman over the age of 50 has a 3 percent chance of mortality over her lifetime from the direct consequences of osteoporosis, similar to her lifetime risk of mortality from breast cancer.
Radius is a privately held company that is a leader in the discovery and development of a new generation of drug therapies for osteoporosis and women's health. The company raised $24 million in a Series A financing in November, 2003. Investors include HealthCare Ventures, MPM Capital and Oxford Bioscience Partners. Radius is located in Cambridge, Massachusetts.
Ipsen is a European pharmaceutical group with over 20 products on the market and a total worldwide staff of nearly 4,000. The Company's development strategy is based on a combination of products in targeted therapeutic areas (oncology, endocrinology and neuromuscular disorders), which are growth drivers and primary care products which contribute significantly to its research financing. This strategy is also supported by an active policy of partnerships. The location of its four R&D centres (Paris, Boston, Barcelona, London) gives the Group a competitive edge in gaining access to leading university research teams and highly qualified personnel. In 2004, Research and Development expenditure reached euro 143.2 million, i.e. 18.7% of consolidated sales, which amounted to euro 767.8 million in the Group's pro forma accounts set up according to the IFRS. More than 650 people in R&D are dedicated to the discovery and development of innovative drugs for patient care.
Ipsen's shares are traded on Segment A of Eurolist by Euronext(TM) (stock code: IPN, ISIN code: FR0010259150).
For further information: Radius Bart Henderson, Chief Business Officer Tel.: (617) 551-4702 -- Fax: (617) 551-4701 e-mail: email@example.com Web site: http://www.radiuspharm.com (C) 2005 Radius Health Inc. Ipsen Didier Veron, Director, Public Affairs and Corporate Communications Tel.: +33 (0)1 44 30 42 15 -- Fax: +33 (0)1 44 30 42 04 e-mail: firstname.lastname@example.org Web site: http://www.ipsen.com Brunswick Agnes Catineau (email@example.com) Jerome Biscay (firstname.lastname@example.org) Tel.: +33 (0) 1 53 96 83 83 Image 7 Constance Giscard d'Estaing (email@example.com) Isabelle de Segonzac (firstname.lastname@example.org) Tel.: +33 (0)1 53 70 74 70Radius
CONTACT: Bart Henderson, Chief Business Officer of Radius, Tel.:+1-617-551-4702, Fax: +1-617-551-4701, or email@example.com;Didier Veron, Director, Public Affairs and Corporate Communications forIpsen, Tel.: +33-1-44-30-42-15, Fax: +33-1-44-30-42-04, firstname.lastname@example.org; Agnes Catineau or Jerome Biscay, both of BrunswickGroup for Ipsen, email@example.com, or Tel: +33-1-53-96-83-83;Constance Giscard d'Estaing, firstname.lastname@example.org, or Isabelle de Segonzac,email@example.com, both of Image 7, Tel.: +33-1-53-70-74-70