Jerini Expands Collaboration with Baxter to Develop Non-intraveneous Hemophilia Therapy
BERLIN, Feb. 6, 2007 - Jerini AG announced today the expansion of their current research collaboration with Baxter AG for the development of a non-intravenous therapy for the treatment of hemophilia. The companies have initiated two additional programs aimed at novel targets, potentially offering new therapeutic developments in the treatment of hemophilia. These new agreements, along with the existing collaboration, focus on three specific targets associated with the disease.
"We are very pleased with the successful progress in our collaboration with Baxter and their decision to expand this alliance. Our proprietary Peptides-to-Drugs (P2D) technology platform offers a novel and highly effective approach in the development of new therapeutic peptide-derived injectable and oral compounds," said Jens Schneider-Mergener, Chief Executive Officer at Jerini.
Under the terms of the expanded agreement, Jerini will receive upfront payments and full time equivalents (FTE) funding for each of the two new programs, with potential milestone payments for the achievement of discovery, preclinical, and clinical goals as well as royalties on eventual product sales. The original collaboration between Baxter and Jerini was initiated in 2001 and expanded in 2004.
About Jerini AG
Jerini is a pharmaceutical company based in Berlin, Germany, focusing on the discovery, development, and commercialization of novel peptide-based drugs. The company pursues disease indications which have limited or no treatment options and has built a drug pipeline composed of its own programs, as well as others in collaboration with partners. In September 2006, Jerini reported Phase III clinical results of Icatibant in the subcutaneous treatment of hereditary angioedema and plans to file marketing authorization applications with the FDA and EMEA in the first half of 2007. Based on its technology platform, Jerini has also established several in-house development programs, which address indications within ophthalmology, oncology, and inflammatory therapeutic areas.
For questions, please contact: Stacy Wiedenmann Director Investor Relations & Corporate Communications Jerini AG Invalidenstr. 130 10115 Berlin T + 49 - 30 - 97893 - 285 X + 49 - 30 - 97893 - 599 email@example.com
Posted: February 2007