- Selected targets (Project Cabrillo) represent new
therapeutic potential across a broad range of immune and
inflammatory diseases
- Leveraging Beacon's world-class G protein-coupled
receptor (GPCR) discovery platform to augment Arena's robust
pipeline
SAN DIEGO, Jan. 2, 2020 /PRNewswire/ -- Arena
Pharmaceuticals, Inc. (Nasdaq: ARNA) and Beacon Discovery today
announced that they entered into a strategic multi-year partnership
(Project Cabrillo) aimed at building novel medicines across a range
of G protein-coupled receptor (GPCR) targets.
Under the terms of the deal, Beacon will be responsible for drug
discovery activities. Arena will focus on developing and
commercializing promising novel compounds in a variety of immune
and inflammatory diseases that complement their first- or
best-in-class pipeline. Financial terms of the agreement have
not been disclosed.
"Project Cabrillo expands our relationship with Beacon
Discovery, allowing us to continue to unlock the value of Arena's
legacy world-class GPCR discovery engine," said Amit D. Munshi, President and Chief Executive
Officer of Arena. "Our work will cover a broad range of novel and
validated targets which we have collectively identified and look
promising. We are excited to work with Beacon to discover new
medicines which we hope will dramatically change the lives of
patients."
"We are thrilled to bolster our long-standing relationship with
Arena and look forward to continuing our successful track record of
discovering and engineering highly-optimized compounds," said
Sunny Al-Shamma, Beacon's Chief
Executive Officer. "We are confident that our expanded partnership
will result in novel best-in-disease medicines targeting the
challenging treatment of autoimmune diseases."
About Arena Pharmaceuticals
Arena Pharmaceuticals is
uniquely positioned to develop best-in-disease medicines with
optimized efficacy and safety for patients globally. Our drive to
deliver a robust pipeline of novel, transformational medicines is
grounded in two decades of world class G-protein-coupled receptor
(GPCR) discovery research.
It is the breadth and depth of the portfolio, the prioritization
of drug development to meet unmet patient needs, the strong
financial health and the growing, bold-thinking world-class team
that gives Arena the ingredients and passion to build a
sustainable, vibrant next generation pharmaceutical company.
About Beacon
Founded in 2016 and headquartered in
San Diego, Beacon Discovery is a
world leader in GPCR-focused drug discovery. Beacon's mission
is to efficiently identify and advance molecules targeting GPCRs
from concept to clinic. Beacon's internal pipeline focuses on
GPCRs for which the native ligand remains unknown. These orphan
GPCRs provide unexploited opportunities to develop novel drugs
addressing significant unmet medical need. In addition, Beacon
collaborates with biopharma partners to leverage internally enabled
GPCR targets and small molecule modulators as well as its wealth of
GPCR discovery skills and tools. For more information, please
contact: Sunny Al-Shamma, CEO,
haa@beacondiscovery.com
Forward-Looking Statements
Certain statements in this
press release are forward-looking statements that involve a number
of risks and uncertainties. These forward-looking statements may be
identified by introductory words such as "potential," "aimed at,"
"will," "hope," "look forward to," "confident that," "uniquely
positioned to," "drive to," or words of similar meaning, or by the
fact that they do not relate strictly to historical or current
facts. Such forward-looking statements include, without limitation,
statements about the partnership, Arena's and Beacon's respective
responsibilities and focus, potential new or best-in-disease
medicines to be discovered and developed thereunder, and
Arena's unique position, drive, portfolio, assets, programs,
licenses, partnerships, and ability to build a sustainable, vibrant
next-generation pharmaceutical company. For such statements, Arena
claims the protection of the Private Securities Litigation Reform
Act of 1995. Actual events or results may differ materially from
Arena's expectations. Factors that could cause actual results to
differ materially from the forward-looking statements include,
without limitation, the following: the timing and outcome of
research, development and regulatory review is uncertain; the risk
that Arena's partnership with Beacon may not result in the
discovery or development of novel compounds or best-in-disease
medicines; enrolling subjects in our ongoing and intended clinical
trials is competitive and challenging; results of clinical trials
and other studies are subject to different interpretations and may
not be predictive of future results; nonclinical and clinical data
are voluminous and detailed, and regulatory agencies may interpret
or weigh the importance of data differently and reach different
conclusions than Arena or others, request additional information,
have additional recommendations or change their guidance or
requirements before or after approval; clinical trials and other
studies may not proceed at the time or in the manner expected or at
all; we expect to need additional funds to advance all of our
programs, and you and others may not agree with the manner we
allocate our resources; our drug candidates may not advance in
development or be approved for marketing; risks related to
unexpected or unfavorable new data; risks related to developing and
commercializing drugs; risks related to relying on partners and
other third parties; Arena's and third parties' intellectual
property rights; and satisfactory resolution of litigation or other
disagreements with others. Additional factors that could cause
actual results to differ materially from those stated or implied by
Arena's forward-looking statements are disclosed in Arena's filings
with the Securities and Exchange Commission. These forward-looking
statements represent Arena's judgment as of the time of this
release. Arena disclaims any intent or obligation to update these
forward-looking statements, other than as may be required under
applicable law.
Arena Corporate Contact:
Kevin
R. Lind
Arena Pharmaceuticals, Inc.
Executive Vice President and
Chief Financial Officer
klind@arenapharm.com
858.210.3636
Arena Media Contact:
IR@arenapharm.com
858-453-7200
Beacon Corporate Contact:
Sunny Al-Shamma
Chief Executive Officer
haa@beacondiscovery.com
Logo -
https://mma.prnewswire.com/media/436843/Arena_Pharmaceuticals_Logo.jpg
Logo -
https://mma.prnewswire.com/media/1060411/Beacon_Discovery_Logo.jpg