ExonHit Extends Strategic Collaboration with Allergan
Agreement to extend the collaboration until December 2013
ExonHit S.A. y announced the extension of its existing drug discovery collaboration with Allergan Sales, LLC. The collaboration was initiated in December 2002, and extended several times. It now is further extended until December 2013. The collaboration will continue to focus on the identification, development and commercialization of drugs for the treatment of neurodegenerative diseases, pain and ophthalmology.
A clear example of success and the type of value being created within the collaboration was reported in the first half of 2010, with the sub-licensing of EHT/AGN 0001(AGN-209323) by Allergan to Bristol-Myers Squibb Company (NYSE: BMY). EHT/AGN 0001 is a Phase II, orally bio-available small molecule in clinical development for neuropathic pain. The agreement between Allergan and Bristol-Myers Squibb also encompassed EHT/AGN 0002 and associated back-up compounds.
“We are very pleased that our longstanding strategic collaboration with Allergan will continue until the end of 2013. The collaboration has created significant value for both organizations, and we are optimistic that it will continue to build upon recent successes and advance additional existing preclinical programs into clinical development,” said Loïc Maurel, CEO of Exonhit.
Detailed financial terms were not disclosed.
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