Biotie announces Roche has decided to not exercise its rights to SYN120, a novel 5-HT6 antagonist for cognitive disorders
(Thomson Reuters ONE) -
Biotie Therapies Corp. Stock Exchange Release 26 June 2012 at 09:00
a.m.
Biotie announces Roche has decided to not exercise its rights to SYN120, a novel
5-HT6 antagonist for cognitive disorders
Biotie announced today that it is retaining global development and
commercialization rights to SYN120, following Roche's decision not to exercise
its opt-in right due to strategic portfolio reasons. SYN120 is Biotie's novel
selective 5-HT6 receptor antagonist that has recently successfully completed a
Phase 1 program including a study using positron emission tomography (PET)
imaging to determine appropriate dosing for Phase 2 development.
Timo Veromaa, Chief Executive Officer of Biotie, commented: "5-HT6 is a very
promising, clinically-validated target in cognitive disorders and SYN120
represents a truly exciting and differentiated product for the treatment of
Alzheimer's disease, schizophrenia and other conditions. A number of reputable
companies have already expressed an interest in the compound and we are
confident that we will find a high quality partner".
SYN120 has an extensive package of clinical and preclinical data and is ready to
enter Phase 2. In March 2012, Biotie reported top-line data from a Phase 1
clinical study using PET imaging to determine the occupancy of the 5HT6 receptor
in the brain following administration of SYN120. The study showed that target
levels of receptor occupancy expected for efficacy can be achieved with SYN120
doses that are an order of magnitude lower than those that have previously been
shown to be safe and well tolerated for up to two weeks in healthy older
volunteers. As such SYN120 is expected to demonstrate efficacy with a very wide
safety margin.
Turku, 26 June 2012
Biotie Therapies Corp.
Timo Veromaa
President and CEO
For further information, please contact:
Virve Nurmi, Biotie Therapies Corp.
tel. +358 2 274 8900
e-mail: virve.nurmi(at)biotie.com
DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Main Media
www.biotie.com
About SYN120
SYN120 is a potent and selective oral 5-HT6 receptor antagonist, exclusively
targeting regions in the brain associated with memory function. SYN120 has been
shown to enhance cognition in various preclinical models, and has completed
single and multiple-ascending dose studies in Phase 1 and a PET imaging study to
determine appropriate dosing for Phase 2 development. The compound was
discovered at Roche and is being developed by Biotie under a licensing
agreement.
About Biotie
Biotie is a specialized drug development company focused on the development of
drugs for neurodegenerative and psychiatric disorders (e.g. Parkinson's disease,
Alzheimer's disease and other cognitive disorders, alcohol and drug dependence
(addiction) and post traumatic stress disorder), and inflammatory and fibrotic
liver disease.The company has a strong and balanced development portfolio with
several innovative small molecule and biological drug candidates at different
stages of clinical development. Biotie's products address diseases with high
unmet medical need and significant market potential. Biotie has a strategic
collaboration with UCB Pharma S.A. covering tozadenant for Parkinson's disease.
The Marketing Authorization Application for Biotie's most advanced product,
Selincro(TM) (nalmefene) for alcohol dependence was filed in the EU by our
partner H. Lundbeck A/S and was accepted for review by the European Medicines
Agency in December 2011.Biotie shares are listed on NASDAQ OMX Helsinki Ltd.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Biotie Therapies Oyj via Thomson Reuters ONE
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Datum: 26.06.2012 - 02:01 Uhr
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