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Sciele Pharma today announced that it has signed an exclusive agreement with Addrenex Pharmaceuticals, Inc. to develop and market ADX415, a novel patented, centrally-acting alpha adrenergic receptor agonist, specific to Alpha-2 receptors, for the treatment of hypertension and other potential indications
ATLANTA, GA, USA | July 1, 2008 | Sciele Pharma, Inc. (NASDAQ:SCRX) today announced that it has signed an exclusive agreement with Addrenex Pharmaceuticals, Inc. to develop and market ADX415, a novel patented, centrally-acting alpha adrenergic receptor agonist, specific to Alpha-2 receptors, for the treatment of hypertension and other potential indications. Under the terms of the agreement, Sciele will have the worldwide marketing rights for ADX415, will pay the product development costs, and will also make regulatory milestone payments and royalty payments to Addrenex on product sales. Sciele and Addrenex expect to begin the Phase II clinical studies in the second half of 2008.
Ed Schutter, President and Chief Operating Officer of Sciele Pharma, said, This agreement further expands our relationship with Addrenex and provides the Company with a product in Phase II clinical development, expanding our pipeline beyond 2010. This is the first new chemical entity (NCE) that will be developed by Sciele. We are optimistic about the potential of ADX415 for the treatment of hypertension. According to a recent report from the American Health Association, hypertension has developed resistance to existing drugs and has become increasingly difficult to treat. By analyzing studies of patients with high blood pressure, an AHA panel concluded that 20% to 30% could not manage their condition with three or more medicines, even when used exactly as specified.
Moise Khayrallah, Ph.D., Chief Executive Officer of Addrenex, said, This second partnership agreement with Sciele is particularly rewarding because it provides tangible proof that our compounds are valuable and that they fill a critical gap in the treatment of debilitating conditions. Although ADX415 is an NCE, we will benefit from valuable data already accumulated from several pre-clinical and clinical studies completed by Procter and Gamble and will therefore be able to move swiftly into clinical trials.
About Sciele Pharma, Inc.
Sciele Pharma, Inc. is a pharmaceutical company specializing in sales, marketing and development of branded prescription products focused on the therapeutic areas of Cardiovascular, Diabetes, Women's Health and Pediatrics. The Company's Cardiovascular and Diabetes products treat patients with high cholesterol, hypertension, high triglycerides, unstable angina and Type 2 diabetes; its Women's Health products are designed to improve the health and well-being of women and mothers and their babies; and its Pediatrics products treat allergies, asthma, coughs and colds, and attention deficit and hyperactivity disorder (ADHD). Founded in 1992 and headquartered in Atlanta, Georgia, Sciele employs more than 900 people. The Company's success is based on placing the needs of patients first, improving health and quality of life, and implementing its business platform - an Entrepreneurial Spirit, Innovation, Execution Excellence, Simplicity, and Teamwork.
About Addrenex Pharmaceuticals, Inc.
Addrenex Pharmaceuticals is a focused, specialty pharmaceutical company that develops and commercializes drugs to treat adrenergic dysregulation. Addrenex Pharmaceuticals is based in Durham, North Carolina, on the edge of Research Triangle Park. The company was formed in 2006 by a practicing physician and a drug development expert with the mission to explore the impact that neurotransmitter regulation has on a variety of diseases and disorders. Addrenex identified adrenergic regulation as its initial research focus. Adrenergic dysregulation is implicated in medical conditions such as hypertension, ADHD and migraine. Addrenex is using the knowledge and experience gained from developing CLONICEL(R) as the foundation for additional discovery and development in the area of adrenergic regulation.
SOURCE: Addrenex Pharmaceuticals, Inc. |
