Lille (France), Boston (Massachusetts, United States), September 23rd, 2014 – GENFIT (Euronext: GNFT; ISIN: FR0004163111), a biopharmaceutical company at the forefront of developing therapeutic and diagnostic solutions in metabolic and inflammatory diseases, that notably affect the liver or the gastrointestinal system, today announces the signature of an extension to the historical agreement with its partner Sanofi, thus prolonging the current phase of shared research between the scientific teams until May 2015.
This extension renews the latest Drug Discovery collaboration contract which links the two companies in a risk-sharing agreement since early 2011.
The aim of this collaboration is the identification and the development, up to marketing authorization, of drug candidates that target the correction of mitochondrial dysfunctions associated with certain metabolic disorders, in particular Type 2 diabetes.
As part of the renewal of this agreement, GENFIT has obtained an increase in the milestone payments linked to the achievement of the different clinical development phases of the drug candidates arising from the collaboration.
About GENFIT:
GENFIT is a biopharmaceutical company focused on the Discovery and Development of drug candidates in fields of high medical need due to a lack of suitable treatment and an increasing number of patients worldwide. GENFIT’s R&D efforts are focused on contributing to bringing new medicines to market for patients with metabolic, inflammatory, autoimmune and fibrotic diseases, that affect the liver (such as NASH - Nonalcoholic steatohepatitis) or the bowel (such as the inflammatory bowel disease). GENFIT implements mutually beneficial approaches that combine novel treatments and biomarkers; its research programs have resulted in the creation of a rich and diversified pipeline of drug candidates, including GENFIT’s lead proprietary compound, GFT505, that is completing a Phase 2b study in NASH.
With facilities in Lille, France, and Boston, MA (USA), the Company has approximately 80 employees. GENFIT is a public company listed in compartment B of Euronext’s regulated market in Paris (Euronext: GNFT; ISIN: FR0004163111). www.genfit.com
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