7TM Pharma receives milestone payment from asthma and allergy collaboration
Wednesday, April 16, 2008
7TM Pharma has received an undisclosed milestone payment in their research collaboration with Ortho-McNeil-Janssen Pharmaceuticals, Inc. (“Ortho-McNeil”). The milestone was triggered by successful progress in selecting a pre-clinical candidate for the treatment of asthma and allergy.
In June 2005 7TM Pharma entered an exclusive worldwide license agreement and research collaboration with Ortho-McNeil, to further develop 7TM Pharma’s program on novel oral compounds for the treatment of asthma and allergy. The basis for the collaboration is 7TM Pharma’s drug discovery platform, Site-Directed Drug Discovery® (SD3), and one of its resulting drug discovery programs targeting the discovery of novel antagonists to a certain 7-transmembrane receptor.
Mette Kirstine Agger, CEO of 7TM Pharma: “We are very pleased with the progression of this research collaboration in such an important therapeutic area of asthma and allergy. The selection of this pre-clinical candidate further demonstrates the value of our SD3 approach in various disease areas beyond our own focus area of metabolic disorders”.
Asthma is a chronic disease characterized by recurrent attacks of breathlessness and wheezing and the disease is the most common chronic disease among children. It currently affects 300 million people worldwide (WHO). Allergy occurs when the body has an abnormal reaction to an everyday substance (allergen). Allergy is one of the main causes for developing asthma and is often underestimated, under diagnosed and under treated, despite its high prevalence and effects on the quality of life. Symptoms vary from mild to severe and even fatal.
Mette Kirstine Agger, CEO
Tel: +45 39 25 77 77
About 7TM Pharma
7TM Pharma is a biotech company focusing on discovery and development of new drugs targeting 7TM receptors. 7TM Pharma’s primary therapeutic area is metabolic diseases, including obesity, Type 2 diabetes and cardiovascular diseases.
The basis for 7TM Pharma’s drug discovery is a thorough and comprehensive knowledge about 7TM receptors including their structure, function and pharmacology which the company uses in the design of new potential drugs. In recent years, the company has established a broad pipeline of research and development programs based on in-house drug discovery and development, and entered into several research partnerships.
Since its inception in 2000, 7TM Pharma has raised DKK 610 million (EUR 82 million). Investors include Index Ventures, Novo A/S, Alta Partners, LD Pensions, Johnson & Johnson Development Corporation, Dansk Innovationsinvestering, Sofinnova Capital, Healthcare Private Equity Limited Partnership, Lombard Odier Darier Hentsch & Cie, SR One, Global Life Science Ventures, Baker/Tisch Investments, Credit Agricole Private Equity, GIMV and BioMedinvest AG.