|[January 03, 2014]
Probiodrug Transfers its CDK9 Inhibitor Program to AstraZeneca
HALLE/SAALE, Germany --(Business Wire)--
Probiodrug AG (Probiodrug) announced today the transfer of its
experimental cyclin-dependent kinase 9 (CDK9) inhibitor program to
AstraZeneca (LSE: AZN, NYSE: AZN). The transaction includes the sale to
AstraZeneca of a lead molecule and back-up compounds with the associated
intellectual property. CDK9, which has been implicated in
the transcriptional regulation of genes involved in proliferation and
inflammation, is a promising target for the treatment of both cancer and
"AstraZeneca is an excellent party to take over our promising CDK9
inhibitor program," commented Hendrik Liebers, CFO of Probiodrug. "This
transaction is consistent with our strategy to focus our resources
exclusively on Alzheimer's disease."
Cyclin-dependent kinases (CDKs) are critical regulators of cell cycle
progression and RNA transcription. A variety of genetic events cause
overactivity of the cell cycle CDKs in cancer and their inhibition can
lead to both cell cycle arrest and apoptosis.
Susan Galbraith, vice president and head of the Oncology iMed unit at
AstraZeneca, added, "We are particularly interested in the development
of targeted therapies for onology, such as CDK9. We believe that
Probiodrug's CDK9 inhibitor program, while early stage, shows potential
and we look forward to continuing its development."
Financial terms of the asset purchase were not disclosed. Probiodrug was
advised by UP Biotech Management AG in this transaction.
About Probiodrug AG
Probiodrug is a biopharmaceutical company dedicated to the discovery and
development of novel therapeutic solutions to treat people with
Alzheimer's disease. The Company has medical use and composition of
matter patents related to the inhibition of glutaminyl cyclase,
providing the Company with a dominant position in this field of
research. Probiodrug is backed by institutions such as BB Biotech,
Edmond de Rothschild Investment Partners, Goodvent/IBG, HBM, TVM
Capital, Life Sciences Partners, Biogen Idec New Ventures, CFH Group,
funds managed by Wellington Management and private investors.
Probiodrug's core capabilities are based on its long-standing expertise
in the elucidation of the structure and function of enzymes which play a
central role in the maturation of hormones. Probiodrug was founded in
1997 by Prof. Dr. Hans-Ulrich Demuth and Dr. Konrad Glund. For more
information, please visit www.probiodrug.de.
AstraZeneca is a global, innovation-driven biopharmaceutical business
that focuses on the discovery, development and commercialisation of
prescription medicines, primarily for the treatment of cardiovascular,
metabolic, respiratory, inflammation, autoimmune, oncology, infection
and neuroscience diseases. AstraZeneca operates in over 100 countries
and its innovative medicines are used by millions of patients worldwide.
For more information please visit: www.astrazeneca.com
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