Uppsala, Sweden – March 17, 2016 – Orexo AB (publ) today announced that
AstraZeneca has decided to acquire all rights to the leukotriene C4 synthase
inhibitor program (OX-CLI project) for MUSD 5. AstraZeneca established a
collaboration with Orexo AB for OX-CLI in 2013 and maintained an option to
acquire all rights in the program. As the program has advanced into pre-clinical
development with an identified development compound (candidate drug),
AstraZeneca has chosen to exercise this option.
OX-CLI is directed to develop a novel treatment of respiratory disorders such as
asthma and COPD. It is based on a new chemical entity (NCE) and AstraZeneca has
been responsible for all research and development activities and investments
since 2013. After the acquisition of the rights to OX-CLI, AstraZeneca will
continue the drug development without further involvement of Orexo AB. In
accordance to the option agreement from 2013, Orexo AB will receive a payment of
MUSD 5 for the rights to OX-CLI. Future milestone payments can be expected when
OX-CLI meets defined development and commercial objectives. In addition to the
milestones Orexo will receive a tiered single digit royalty on future net
-revenue associated to sales of products based on the
OX-CLI program.
Nikolaj Sørensen, CEO of Orexo AB, said: “I am pleased that AstraZeneca has
decided to exercise the company’s option to acquire this novel and innovative
program. It is an important sign of confidence in OX-CLI, from one of the
leading companies within respiratory diseases. We look forward to follow the
continued product development of OX-CLI, which we believe has the potential to
become an important new medication in the treatment of respiratory diseases.”
“Pushing the boundaries of science to transform disease management and improve
asthma patient outcomes is central to our respiratory strategy, and the OX-CLI
compounds could enable us to offer a completely new personalised treatment for
patients whose condition is caused by the dysregulation of leukotrienes. I am
particularly pleased to see this new collaboration come to fruition as it could
help to further strengthen the Nordic Life Science eco-system,” said Maarten
Kraan, VP, RIA Innovative Medicines unit, AstraZeneca.
For further information, please contact:
Nikolaj Sørensen, CEO and President
Tel: + 46 (0)18 780 88 00, +46 (0)70-350 78 88, E-mail: ir@orexo.com
About Orexo
Orexo is a specialty pharmaceutical company commercializing its proprietary
product Zubsolv for treatment of opioid dependence in the US. Zubsolv is an
advanced formulation of buprenorphine and naloxone using Orexo’s unique
knowledge and expertise in sublingual drug delivery. R&D is focusing on
reformulation of known substances to new improved products that meet great unmet
medical needs by using its patented proprietary technologies. Orexo’s share is
listed on Nasdaq Stockholm Mid Cap (STO:ORX) and is available as ADRs on OTCQX
(ORXOY) in the US. Orexo’s global headquarters and R&D are based in Uppsala,
Sweden. www.orexo.com
About AstraZeneca
AstraZeneca is a global, innovation-driven biopharmaceutical business that
focuses on the discovery, development and commercialization of prescription
medicines, primarily for the treatment of diseases in three main therapy areas –
respiratory, inflammation, autoimmune disease (RIA), cardiovascular and
metabolic disease (CVMD) and oncology – as well as in infection and
neuroscience. 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.
Orexo AB (publ) discloses the information provided herein pursuant to the
Financial Instruments Trading Act. The information was submitted for publication
at 08:00 a.m. CET on March 17, 2016.
