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Pharmacopeia Acquires Selective Androgen Receptor Modulator ("SARM") Program from Bristol-Myers Squibb |
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16 Oct 2007 |
Pharmacopeia, today announced that it has licensed from Bristol-Myers Squibb a selective androgen receptor modulator program, including a lead compound in Phase 1 clinical development and back-up compounds
PRINCETON, NJ, USA | October 15, 2007 | Pharmacopeia (NASDAQ: PCOP), an innovator in the discovery and development of novel small molecule therapeutics, today announced that it has licensed from Bristol-Myers Squibb (NYSE: BMY) a selective androgen receptor modulator (SARM) program, including a lead compound in Phase 1 clinical development and back-up compounds. PS178990 is a non-steroidal selective androgen receptor modulator, or SARM, which was designed to provide the benefits of testosterone without its unwanted side effects on prostate. The program has completed a Phase 1 single ascending dose study.
SARM agonists are a potential novel treatment for muscle wasting associated with a number of serious chronic and acute medical conditions such as surgical and severe burn recovery, end-stage renal disease and cancer- and AIDS-related cachexia. The shortage of existing treatments results in extended hospital stays and recovery time as well as diminished quality of life.
“I am very pleased to have broadened our portfolio under mutually attractive terms by adding PS178990, which is the seventh clinical development-stage compound being advanced by Pharmacopeia or its collaborators,” stated Les Browne, Ph.D., President and Chief Executive Officer of Pharmacopeia. “Furthermore, this program offers Pharmacopeia another opportunity to build the business by adding a Phase 1 development-stage product candidate with the potential to treat a wide range of underserved conditions.”
In consideration for the SARM program license, Pharmacopeia will apply a portion of its medicinal chemistry resources to an unrelated Bristol-Myers Squibb discovery program for up to three years and pay Bristol-Myers Squibb milestone payments associated with submission and approval of a therapeutic product for marketing and a stepped royalty on net sales of therapeutic SARM products, if any, resulting from the SARM development program.
Pharmacopeia will hold a conference call today, October 15, beginning at 8:30 a.m. Eastern Time to discuss this addition to its clinical portfolio. Forward-looking and material information may be discussed on this conference call.
About Pharmacopeia
Pharmacopeia is a clinical development stage biopharmaceutical company dedicated to discovering and developing novel small molecule therapeutics to address significant medical needs. The company has a broad portfolio of clinical and preclinical candidates under development internally or with partners including seven clinical compounds in Phase 2 or Phase 1 development addressing hypertension, diabetic nephropathy, muscle wasting, inflammation and respiratory disease. The company is leveraging its fully integrated drug discovery platform to sustain the growth of its development pipeline. Pharmacopeia has established strategic alliances with major pharmaceutical and biotechnology companies, including Bristol-Myers Squibb, Cephalon, GlaxoSmithKline, Organon, Schering-Plough, and Wyeth Pharmaceuticals. For more information please visit the company’s website at http://www.pharmacopeia.com.
SOURCE: Pharmacopeia |
