Actelion provides an update on the strategic agreement with Trophos S.A.
Tue Dec 13, 2011 1:01am EST
Actelion Pharmaceuticals Ltd / Actelion provides an update on the strategic agreement with Trophos S.A. . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.
Pivotal clinical study by Trophos with olesoxime in Amyotrophic Lateral Sclerosis did not reach statistical significance on the primary endpoint - Actelion will consequently not exercise the option to acquire the company
ALLSCHWIL, SWITZERLAND - 13 December 2011 - Actelion Ltd (SIX: ATLN) announced today, following the communication of the pivotal Phase III results in patients suffering from Amyotrophic Lateral Sclerosis (ALS) by privately-held Trophos S.A., that it has decided not to exercise the option to acquire the company.
In July 2010, Actelion and Trophos entered into an agreement whereby Actelion, in exchange for an option payment of EUR 10 million, obtained an exclusive option to acquire, at predetermined terms, privately-held Trophos pending the outcome of the Phase III study with olesoxime in ALS. The payment was recorded as a financial investment and, following the decision not to proceed with the acquisition, the option will be written-off within financial expenses.
Notes to Editor:
About the study results
The Trophos announcement with details on the study results can be found in the latest news section on:
About Actelion Ltd
Actelion Ltd is a biopharmaceutical company with its corporate headquarters in Allschwil/Basel, Switzerland. Actelion's first drug Tracleer®, an orally available dual endothelin receptor antagonist, has been approved as a therapy for pulmonary arterial hypertension. Actelion markets Tracleer® through its own subsidiaries in key markets worldwide, including the United States (based in South San Francisco), the European Union, Japan, Canada, Australia and Switzerland. Actelion, founded in late 1997, is a leading player in innovative science related to the endothelium - the single layer of cells separating every blood vessel from the blood stream. Actelion's over 2,500 employees focus on the discovery, development and marketing of innovative drugs for significant unmet medical needs. Actelion shares are traded on the SIX Swiss Exchange (ticker symbol: ATLN) as part of the Swiss blue-chip index SMI (Swiss Market Index SMI®).
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