MILAN, ITALY, Aug 05, 2011 (MARKETWIRE via COMTEX) -- MolMed S.p.A. (milan:MLM) today announced that it has signed an agreement with GlaxoSmithKline (GSK) under which MolMed will develop a production process for an investigational gene therapy for ADA-SCID (Adenosine Deaminase Deficiency - Severe Combined Immune Deficiency), a very rare and life-threatening disease that affects approximately 350 children worldwide. Under the terms of the agreement, MolMed will receive up to EUR 5.5 million in revenues over a two-year period.
ADA-SCID is a disease caused by the alteration of a single gene; it was thus possible to develop a therapy by inserting, through gene transfer technology, the correct form of the gene into the patient’s own stem cells derived from their bone marrow. This gene therapy, which is in late stage clinical trials, has been developed by the San Raffaele Telethon Institute for Gene Therapy (HSR-TIGET) and was in-licensed by GSK to develop and commercialise the therapy.
Claudio Bordignon, chairman and CEO of MolMed, comments: “We are extremely pleased to have entered into this agreement with GSK. MolMed has expertise and know-how in the field of gene and cell therapy and this agreement with GSK is an important step on the way to provide gene therapy for patients with rare diseases. I am very proud that today MolMed can give its industrial contribution to this innovative and advanced field of medicine.”
This press release is written in compliance with public disclosure obligations established by CONSOB (Italian securities & exchange commission) resolution no. 11971 of 14.5.1999, as subsequently amended.
About MolMed
MolMed S.p.A. is a biotechnology company focused on research, development and clinical validation of novel anticancer therapies. MolMed’s pipeline includes two novel therapeutics in clinical development: TK, a cell-based therapy enabling bone marrow transplants from partially compatible donors, in Phase III in high-risk acute leukaemia, and NGR-hTNF, a novel vascular targeting agent (VTA), in Phase III in malignant pleural mesothelioma and in Phase II in six more indications. The company’s shares are listed on the Milan Stock Exchange, at the Standard segment (class I) of the MTA managed by Borsa Italiana.
About MolMed service area “GMP Solutions”
MolMed has key expertise in cell and gene therapy: its service area, “GMP Solutions”, provides tailor-made services to third parties for cell and gene therapy projects, offering top-level expertise to develop, conduct and validate custom studies, from preclinical to Phase III trials, devising innovative testing procedures and addressing the unique test specifications required for novel cell-based therapeutics. MolMed’s development, manufacturing and clinical expertise in ex vivo cell and gene therapy includes scale-up and cGMP production of clinical-grade viral vectors, and manufacturing of patient-specific genetically engineered cells.
DISCLAIMER
This press release may contain certain forward-looking statements. Although MolMed believes its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, including scientific, business, economic and financial factors, which could cause actual results to differ materially from those anticipated in the forward-looking statements. The company assumes no responsibility to update forward-looking statements or adapt them to future events or developments. This document does not constitute an offer or invitation to subscribe or purchase any securities of MolMed S.p.A.
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Office of Milan Company Register number 11887610159
Share capital as of 30/05/2011: EUR. 43,609,036.42 fully paid
Contacts:
MolMed S.p.A.
Holger Neecke
Director Business Development & Investor Relations
+39 02 21277.205
+39 02 21277.325 (FAX)
investor.relations@molmed.com
MolMed S.p.A.
Elena Lungagnani
Communication Manager
+39 02 21277.207
+39 02 21277.325 (FAX)
media.relations@molmed.com
www.molmed.com
