ChemoCentryx and Forest Laboratories to Collaborate on Development and Commercialization of Novel Oral Rheumatoid Arthritis and
March 15 2004 - 8:30AM
PR Newswire (US)
ChemoCentryx and Forest Laboratories to Collaborate on Development
and Commercialization of Novel Oral Rheumatoid Arthritis and
Multiple Sclerosis Therapeutics SAN CARLOS, Calif. and NEW YORK,
March 15 /PRNewswire-FirstCall/ -- ChemoCentryx, Inc., aprivately
held focused pharmaceutical company, and Forest Laboratories, Inc.
announced today that the two companies have entered into a
collaboration agreement to develop and commercialize novel small
molecule therapeutics for autoimmune and inflammatory diseases such
as rheumatoid arthritis and multiple sclerosis. The collaboration
focuses on CCR1, a specific chemokine receptor involved in
inflammation; the most advanced compound may be ready to enter
Phase I clinical studies within the next 12 months. Under the terms
of the agreement, Forest will license on a worldwide basis small
molecule development candidates discovered by ChemoCentryx, and
will take the lead in the clinical development and
commercialization of the drugs. ChemoCentryx will receive an
upfront payment from Forest in the form of a cash licensing fee and
the purchase of ChemoCentryx preferred stock. Forest will provide
funding for a joint research program for up to three years. Forest
will have exclusive rights to all CCR1 antagonists developed during
that period and will take the lead in clinical development. Forest
will pay ChemoCentryx upfront, research and milestone payments as
well as significant royalties for products arising from the
collaboration. In addition, ChemoCentryx has the option to co-fund
certain U.S. clinical development activities, which would increase
its royalties on U.S. sales. ChemoCentryx retains the option to
co-promote products to certain physician specialists in the U.S.
"We are delightedto enter into this collaboration with Forest, a
committed partner with proven capabilities in the development and
marketing of innovative products across diverse therapeutic
categories," stated Thomas Schall, Ph.D., Chief Executive Officer
of ChemoCentryx. "This collaboration will increase the rapid
clinical advancement of the ChemoCentryx pipeline, providing
synergies with our internal efforts and proprietary programs, as
well as solidifying our progression as a development-stage company.
The chemokine system is proving to be a rich target for highly
potent and highly specific small molecule therapeutics." "We have
been seeking ways to expand our pipeline potential by reaching
further back into earlier stage compounds, while, at the same time,
continuing our active pursuit of later stage compounds," commented
Howard Solomon, Forest's Chairman and Chief Executive Officer.
"Within the last several years we identified malfunction of the
inflammation system and the auto-immune response as the progenitors
of many disease entities, and embarked on an active search for
targets, researchers, and compounds that had the greatest potential
to modulate those diseases. That search led us to ChemoCentryx and
its chemokine program. Although this program involves long term
commitments and associated risks, the areas involved, the
preclinical data already available, the brilliant work already done
by our collaborator, and the availability of worldwide rights,
which may at various stages of the development program enable us to
share the risk and to facilitate other licensing opportunities for
foreign rights, all make this a very exciting collaboration for
us." New Medicines Based on the Chemokine System The chemokine
system regulates the traffickingof immune cells around the body. In
a healthy individual, chemokines activate the immune system to
fight disease and maintain immune system equilibrium.
Disequilibrium of the chemokine network, however, is at the core of
autoimmune and inflammatory disorders, such as rheumatoid
arthritis, multiple sclerosis and other diseases. Chemokines are
also critical to the establishment of infection by many pathogens
and to the establishment and progression of some cancers.
ChemoCentryx is discovering small molecule compounds with the
potential to block specific chemokine receptors in order to reduce
or eliminate the excessive and harmful immune response in many
inflammatory and autoimmune diseases. New oral, chemokine-based
therapeutics have the potential to treat diseases not adequately
treated presently or treatable primarily with an injectable drug
regimen. Chemokine antagonists may provide high target selectivity
and disease specificity and improved patient compliance. Among
these, CCR1 antagonists provide a new approach to block the chronic
inflammation and auto-immune response associated with rheumatoid
arthritis, multiple sclerosis and other relevant diseases without a
general immuno- suppressive effect. About ChemoCentryx
ChemoCentryx, Inc. discovers, develops and commercializes novel
small molecule medicines for autoimmune diseases, inflammatory
disorders, cancer and infectious disease. ChemoCentryx has advanced
Traficet-EN(TM), the company's orally active drug for inflammatory
bowel disease, into Phase I clinical trials. Other programs include
emerging drug candidates for cancer and cardiopulmonary
inflammation. ChemoCentryx's first lead compound, an oral treatment
for psoriasis, entered into Phase II clinical study initiated by
the company's partner, Tularik. In addition, an orally active
development candidate for rheumatoid arthritis and multiple
sclerosis is the subject of the company's collaboration with Forest
Laboratories. Leveraging its leadership in chemokine-based drug
discovery, ChemoCentryx focuses on new classes of orally active
small molecules to selectively inhibit activity of the chemokine
system, the "master regulator" of immune response. Based in San
Carlos, California, ChemoCentryx is privately held. For more
information on the company, visit http://www.chemocentryx.com/. Any
statements in this press release about ChemoCentryx's expectations,
beliefs, plans, objectives, assumptions or future events or
performance are not historical facts and are forward-looking
statements. These statements are often, but not always, made
through the use of words or phrases such as "believe," "will,"
"expect," "anticipate," "estimate," "intend," "plan," and "would."
Forward-looking statements are not guarantees of performance. They
involve known and unknown risks, uncertainties and assumptions that
may cause actual results, levels of activity, performance or
achievements to differ materially from any results, levels of
activity, performance or achievements expressed or implied by any
forward-looking statement. Some of the risks, uncertainties and
assumptions that could cause actual results to differ materially
from estimates or projections contained in the forward-looking
statements include but are not limited to (i) the timing, success
and cost of preclinical research and clinical studies, (ii) the
timing, acceptability and review periods for regulatory filings,
(iii) the availability of corporate partners, (iv) uncertainties
relating to patent protection andintellectual property rights of
third parties, (v) the impact of competitive products and
technological changes, (vi) the availability of capital and the
cost of capital, (vii) other vagaries in the biotechnology industry
and (viii) other risks. ChemoCentryx undertakes no obligation to
update or revise any forward- looking statements. About Forest
Laboratories and Its Products Forest Laboratories' growing line of
products includes: Lexapro(R) an SSRI antidepressant indicated for
the initial and maintenance treatment of major depressive disorder
and Generalized Anxiety Disorder; Celexa(R), an antidepressant;
Namenda(TM), an N-methyl D-aspartate (NMDA) receptor antagonist
indicated for the treatment of moderate to severe Alzheimer's
disease; Tiazac(R), a once-daily diltiazem, indicated for the
treatment of angina and hypertension; Benicar(R)*, an angiotensin
receptor blocker indicated for the treatment of hypertension;
Benicar HCT, an angiotensin receptor blocker and diuretic
combination productindicated for the second- line treatment of
hypertension; and Aerobid(R), an inhaled steroid indicated for the
treatment of asthma. *Benicar(R) is a registered trademark of
Sankyo Pharma, Inc. Except for historical information contained
herein, this release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements are subject to risks and uncertainties that
affect our business, including risk factors listed from time to
time in the Company's SEC reports, including the Company's Annual
Report on Form 10-K for the fiscal year ended March 31, 2003, and
Quarterly Reports on Form 10-Q for the periods ending June 30,
2003, September 30, 2003, and December 31, 2003. Actual results may
differ materially from those projected. DATASOURCE: Forest
Laboratories, Inc.; ChemoCentryx, Inc. CONTACT: Charles E. Triano,
Vice President, Investor Relations, Forest Laboratories, Inc.,
+1-212-224-6714, ; Markus Cappel, Ph.D., VP, Business Development,
ChemoCentryx, Inc., +1-650-632-2900, ; For media inquiries - Karen
L. Bergman, +1-650-575- 1509, or Michelle Corral, +1-415-794-8662,
both of BCC Partners Web site: http://www.frx.com/
http://www.chemocentryx.com/
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