SAN FRANCISCO, April 11 /PRNewswire/ -- DiObex, Inc., a biotechnology company developing therapeutics for the treatment of metabolic diseases, announced today the conclusion of a worldwide exclusive license agreement with Cortendo Invest AB of Gothenburg, Sweden.
The license covers patents, patent applications, intellectual property, data and certain other assets relating to novel inhibitors of Cortisol synthesis. Included within the licensed assets is an issued patent which broadly covers the field of Cortisol synthesis inhibition for treatment of metabolic diseases such as Type 2 Diabetes and Metabolic Syndrome.
"We are very excited at the prospect of being the first company to bring a Cortisol Synthesis Inhibitor (CSI) to market. Many of the big pharma companies are in hot pursuit of this target," commented Daniel Green, President of DiObex. "There are convincing data supporting the thesis that elevated cortisol activity is one of the leading causes of insulin resistance, visceral fat deposition, dyslipidemias, elevated cholesterol and blood pressure. All these abnormalities are commonly present in Type 2 diabetics and obese pre- diabetics. The data generated by Cortendo demonstrates for the first time in human subjects that inhibition of Cortisol synthesis can provide substantial clinical benefits by improving these parameters significantly in a relatively short period of time."
Eigil Spetalen, CEO of Cortendo Invest AB said, "I am delighted that our innovative project has found a new home in the capable hands of the talented DiObex management team. We have worked with them to reach this agreement for quite some time, and in the process have become convinced that the company has an excellent plan to develop these valuable assets."
Green will present DiObex at the Dow Jones VentureOne Summit in San Francisco on April 12th. To learn more about the conference, visit http://www.v1summit.com/.
About DiObex, Inc.
DiObex, Inc. is a San Francisco based, venture-financed biotechnology company. The company was founded in 2003, to develop novel products for the treatment of metabolic diseases. The company's novel formulations of Very Low Dose Glucagon (VLD Glucagon) are currently undergoing clinical testing at the Mayo Clinic, Tulane University, University of California San Diego and DGD Clinic. DiObex investors are Domain Associates, Pequot Ventures and Sofinnova Ventures. For more information, visit http://www.diobex.com/.
About Cortendo Invest AB
Cortendo Invest AB is a pharmaceutical company which has focused on developing the first treatments for Type 2 Diabetes and Metabolic Syndrome based on a new therapeutic strategy -- Cortisol regulation. Cortendo was formally established in late 1996. For more information, visit http://www.cortendo.com/.
For more information about DiObex Investors http://www.sofinnova.com/http://www.pequotventures.com/http://www.domainvc.com/
DiObex, Inc.CONTACT: Bruce Carlson of DiObex, Inc., +1-415-551-4116, orbcarlson@diobex.com; or investors, Karen Roberson, +1-415-228-3395, orkaren@sofinnova.com, for DiObex, Inc.
Web site: http://www.pequotventures.com/
Web site: http://www.domainvc.com/
Web site: http://www.sofinnova.com/
