Following the introduction of its new research and development (R&D) strategy, Nycomed reviewed all drug development projects. A further engagement in the oncology field would have required to build up capabilities in late-stage development and marketing in the oncology field. To clearly focus its resources, Nycomed decided to discontinue its cancer research activities and sell the related projects.
"We are pleased with the agreement to hand over these oncology projects to 4SC", said Kerstin Valinder, Nycomedâs Executive Vice President Business Development. "It paves the way for in-licensing in other target areas such as gastro-intestinal, respiration, inflammation, pain, osteoporosis and tissue management", she continued.
"This group of projects has been a rare opportunity for us. With the newly acquired projects, we significantly strengthen our clinical and preclinical product portfolio", explained Dr. Ulrich Dauer, CEO of 4SC.
4SC will assume full ownership of the eight projects, while Nycomed retains rights to research, develop and commercialize outside the scope of the patents sold. The transaction is due to be completed by 31 July 2008.
4SC AG (ISIN DE0005753818) has been listed in the Prime Standard of Frankfurt Stock Exchange since 15 December 2005. Founded in 1997 and now with a staff of 74, the company develops novel drug candidates for inflammatory diseases, cancer and infectious diseases using a cheminformatics based technology platform.
Traditional high throughput screening of therapeutic agents has been transferred from the lab to the computer. Thus, the company offers substantial cost and time advantages as well as increased success rates in drug development. 4SC AG utilises its technology platform, which is protected by patent, to create a sustainable project pipeline of active agents to be developed up to the early clinical phases ("proof of concept") and subsequently licensed to the pharmaceutical industry in return for advance and milestone payments as well as royalties.
There are currently six projects in the pipeline and a so-called ideas' pool with further development candidates. The first project for the treatment of rheumatoid arthritis has already successfully completed clinical phase IIa. Four other product candidates are in pre-clinical development and another project is in the research stage. In addition, the company is implementing its technology platform in partnerships with pharmaceutical and biotechnology companies, and is already generating initial revenues.
For more information visit: www.4sc.com.
Nycomed is a privately owned pharmaceutical company that provides medicines for hospitals, specialists and general practitioners, as well as over-the-counter medicines in selected markets.
The company is active in a range of therapeutic areas. Its key products are aimed at gastroenterology, pain management, osteoporosis, respiratory diseases and tissue management. New products are sourced both from our own research and from business partners.
Operating throughout Europe and in fast-growing markets such as Latin America, Russia/CIS and the Asia-Pacific region Nycomed has a presence in about 50 markets worldwide.
The combined group employs over 11,500 people. In 2007, it had annual sales of € 3.5 billion and an adjusted EBITDA of € 1.2 billion.
For more information visit www.nycomed.com.