Biotie Provides Update on Pfizer Research Collaboration
(Thomson Reuters ONE) -
BIOTIE THERAPIES CORP. STOCK EXCHANGE RELEASE March 9, 2010 at 9.00 a.m.
Biotie Provides Update on Pfizer Research Collaboration
Biotie announced today that the discovery phase of the Research Collaboration
and License Agreement between Biotie and Pfizer regarding the development of
PDE10 (phosphodiesterase 10) inhibitors for schizophrenia will end in June
2010. Under the terms of the agreement, Pfizer has been funding Biotie's
research activities on the PDE10 inhibitor program since its initiation at the
end of 2006 and has the sole authority with respect to developing discovered
compounds. To date, the program has advanced one compound into preclinical
development.
Timo Veromaa, President and CEO of Biotie, said "In this research collaboration
with Pfizer we have succeeded in finding innovative molecules for the treatment
of schizophrenia, a disease area which has seen very few advances, especially in
new mechanisms such as PDE10, over the last few decades. We believe this
partnership provides further validation of our PDE platform technology"
PDE10 is a novel CNS drug target for schizophrenia treatments. Biotie, in
collaboration with Pfizer, has demonstrated that inhibitors of PDE10 are active
in experimental models relevant for schizophrenia. Data from these studies were
recently presented at the American Chemical Society Fall National Meeting in
Washington DC (August 2009) and at the Society for Neuroscience Annual Meeting
in Chicago, IL (October 2009).
Turku, March 9, 2010
Biotie Therapies Corp.
Timo Veromaa
President and CEO
For further information, please contact:
Virve Nurmi, Investor Relations Manager
tel. +358 2 274 8900, e-mail: virve.nurmi(at)biotie.com
www.biotie.com
Distribution:
NASDAQ OMX Helsinki Ltd
Main Media
Biotie Therapies Corp.
Biotie is a drug discovery and development company focused on central nervous
system and inflammatory diseases. It has a broad range of innovative small
molecule and biological drug candidates at different stages of clinical and
pre-clinical development. Biotie's products address diseases with high unmet
medical need and significant market potential, including addiction and psychotic
disorders, rheumatoid arthritis, psoriasis and chronic obstructive pulmonary
disease (COPD). The most advanced product, nalmefene for alcohol dependence, is
currently in phase III clinical development by licensing partner H. Lundbeck
A/S.
The commercial value of the pipeline has been demonstrated through existing
alliances with top-tier global pharmaceutical companies such as Lundbeck, Roche
and Pfizer. Biotie has operations in Turku, Finland and Radebeul, Germany.
Biotie shares are listed on NASDAQ OMX Helsinki Ltd.
For more information, please refer to www.biotie.com
Schizophrenia
Schizophrenia is a chronic, severe and disabling disorder of the central nervous
system affecting up to one percent of the population. The disease is
characterized by hallucinations, social withdrawal, and deficits in cognition
and memory. Current treatments are mostly efficacious in the treatment of
hallucinations but have insufficient efficacy for social withdrawal and may have
intolerable side effects including weight gain, diabetes, movement disorders and
anxiety disorders.
[HUG#1391953]
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Datum: 09.03.2010 - 02:02 Uhr
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