Date: Sep 19, 2011 Source: Business Wire (
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EAST WINDSOR, N.J. & OXFORD, England--(BUSINESS WIRE)--Aestus Therapeutics, Inc. and Prosidion Ltd., a wholly owned subsidiaryof Astellas Pharma Inc., announced today a license agreement providingAestus with exclusive, world-wide rights to the Prosidioninvestigational product PSN-357. Aestus will develop the product asATx09-002, a novel, first-in-class therapeutic for the treatment ofneuropathic pain.
"We areoptimistic that this compound will eventually provide much neededtreatment options to help those who suffer from chronic pain."
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Using their proprietary, systems biology engine for the analysis ofgenome-scale expression data, and animal models accepted to be goodindicators for neuropathic pain in patients, Aestus identifiedATx09-002, a glycogen phosphorylase inhibitor, as a potentialtherapeutic for the treatment of neuropathic pain. ATx09-002 has anexcellent safety and toxicology profile demonstrated during Phase I andII studies conducted by Prosidion.
"We are pleased to enter into this licensing agreement with Prosidionwhich we believe is a valuable addition to our pain portfolio," statedTage Honore, Ph.D., DSc, CEO and co-founder of Aestus. "We areoptimistic that this compound will eventually provide much neededtreatment options to help those who suffer from chronic pain."
Aestus will evaluate the efficacy of ATx09-002 in Phase II clinicaltrials for post-herpetic neuralgia (PHN), the persistent neuropathicpain following an outbreak of shingles. According to the NationalInstitutes of Health, more than one million new cases of shingles arereported each year in the United States, nearly half of which will leadto PHN. Neuropathic pain is also a common complication of cancer,diabetes, viral infections, and other diseases. There is no effectivetreatment to relieve neuropathic pain which is poorly managed by currentdrugs and affects an estimated 39 million sufferers globally.
Pierre Legault, President and Chief Executive Officer of Prosidion Ltd.,commented, "This agreement with Aestus fits well with Prosidion'sstrategy as we seek to maximize the potential of compounds we havediscovered and contribute to the development of much needed therapieseither by Prosidion or by our partners. We are delighted that Aestus hasidentified the potential for PSN-357 to bring relief to neuropathic painsufferers worldwide."
Aestus has recently completed a placebo controlled, double blind,clinical Phase II study in post-herpetic neuralgia of its lead compoundATx08-001. Aestus expects to provide an update on the results of thisstudy later this year.
About Aestus Therapeutics, Inc.
Aestus Therapeutics, Inc. is a translational medicine company focused onserious neurological diseases. Capitalizing on genomic data analysis todiscover novel links between these diseases and well-studied biologicalpathways, Aestus identifies drug candidates in clinical Phase I orlater. By developing these drugs in novel disease areas such as chronicpain, ALS, schizophrenia and epilepsy, Aestus greatly reduces the time,cost and risk required to deliver better and safer medicines for thebenefit of patients and society. www.aestustherapeutics.com
About Prosidion Ltd.
Prosidion Ltd. (a wholly owned subsidiary of Astellas Pharma Inc.) is abiopharmaceutical company, focused on discovering, developing andcommercializing innovative molecular targeted therapies addressing majorunmet medical needs in type 2 diabetes and obesity. The company'sbiological research is focused on neuroendocrine control of body weightand glycemia. This combined with special expertise in the area ofdesigned multiple ligands is geared to deliver novel, innovative first -- or best-in-class therapies for type 2 diabetes and obesity. Prosidion islocated in Oxford, in the UK close to a seat of international academicexcellence. The company has state of the art facilities and fullyintegrated capabilities in research and development. http://www.prosidion.com
Statement of Cautionary Factors
This document contains certain forward-looking statements. Theseforward-looking statements may be identified by words such as 'believes', 'expects', 'anticipates', 'projects', 'intends', 'should', 'seeks', 'estimates', 'future' or similar expressions or by discussionof, among other things, strategy, goals, plans or intentions. Variousfactors may cause actual results to differ materially in the future fromthose reflected in forward-looking statements contained in thisdocument, among others: (1) pricing and product initiatives ofcompetitors; (2) legislative and regulatory developments and economicconditions; (3) delay or inability in obtaining regulatory approvals orbringing products to market; (4) fluctuations in currency exchange ratesand general financial market conditions; (5) uncertainties in thediscovery, development or marketing of new products or new uses ofexisting products, including without limitation negative results ofclinical trials or research projects, unexpected side-effects ofpipeline or marketed products; (6) increased government pricingpressures; (7) interruptions in production; (8) loss of or inability toobtain adequate protection for intellectual property rights; (9)litigation; (10) loss of key executives or other employees; and (11)adverse publicity and news coverage.
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Contacts
Aestus Therapeutics
Lisa McCormick, 609-865-4014
lmccormick@aestustherapeutics.com
or
ProsidionLtd
Stewart Sharpe, +44 (0)1865 782600
ssharpe@prosidion.com
