Pergamum AB announces a strategic collaboration with Cadila Pharmaceuticals Ltd
STOCKHOLM, SWEDEN – February 8, 2013. Pergamum AB and Cadila Pharmaceuticals Ltd today announced a strategic collaboration to develop a novel treatment of infections with a unique targeting mechanism clearly distinguished from classical antibiotics. Pergamum is part of the Karolinska Development portfolio.
The two companies will collaborate on the preclinical and clinical development of a novel therapeutic peptide that has been developed by Pergamum AB. The development will be conducted at the facilities of Cadila Pharmaceuticals Ltd in Ahmedabad, India. Cadila will be responsible for all costs related to the development of the product up to Phase II and global rights will be shared between the companies.
Infections caused by resistant microorganisms often fail to respond to conventional treatment, resulting in prolonged illness and greater risk of death. There is a significant need for safe and effective new products to avoid infections.
"Pergamum has developed a new class of short synthetic peptides with both anti-infective and anti-inflammatory properties derived from the body's own defense system. There is a rapidly increasing global prevalence of antibiotics resistance that limits the therapeutic value of conventional products, and we think that we can meet this need with this novel therapeutic peptide", says Jonas Ekblom, CEO of Pergamum.
"This partnership combines Cadila's advanced product development capabilities with the innovative capacity of Pergamum. Cadila Pharmaceuticals bring their expertise in drug development and demonstrates that commitment towards developing affordable innovative compounds to the market in this collaboration", says Rajiv Modi, Chairman and Managing Director of Cadila Pharmaceuticals Ltd.
"We are delighted to see this collaboration between Cadila and Pergamum. This is a phenomenal opportunity for Pergamum to work with one of the largest pharmaceutical companies in India, a key emerging pharmaceutical market. The strategic value can be substantial for both parties", commented Torbjörn Bjerke, CEO of Karolinska Development AB and Chairman of Pergamum AB.
The establishment of this cooperation was facilitated by Dr. CB Sanjeevi of Karolinska Institutet and Business Sweden.
For further information, please contact:
Jonas Ekblom, President and CEO, Pergamum AB
Phone: +46 (0)8 470 37 40, e-mail: email@example.com
Rajiv Modi, Chairman and Managing Director, Cadila Pharmaceuticals Ltd.
Phone: +91 (0)27 18 22 50 01, e-mail: firstname.lastname@example.org
Torbjörn Bjerke, CEO, Karolinska Development AB
Phone: +46 (0)72 744 41 23, e-mail: email@example.com
TO THE EDITORS
About Pergamum AB
Pergamum is a biopharmaceutical company specialized in the development of therapeutic peptides for local application in infections and wounds. The company's vision is to develop a portfolio of unique development programs representing high medical value that ultimately, through global partnerships, will result in first-in-class and first-in-category products. The current development pipeline includes several therapeutic peptides of which three programs are in clinical development, with potential for use in several medical applications. Please visit our web site: www.pergamum.com.
About Cadila Pharmaceuticals Ltd
Cadila Pharmaceuticals Ltd. is one of the largest privately held pharmaceutical companies in India, headquartered at Ahmedabad, in the State of Gujarat. Over the last five decades, it has been developing and manufacturing pharmaceutical products and selling and distributing these in India and in over 50 countries around the world. Cadila Pharmaceuticals is an integrated healthcare solutions provider with a pharmaceutical product basket in therapeutic areas that include cardiovascular, gastrointestinal, analgesics, haematinics, anti-infectives and antibiotics, respiratory agents, antidiabetics and immunologicals.
The state-of-the-art Research and Development (R&D) facility at Cadila Pharmaceuticals is manned by more than three hundred and fifty scientists and engineers from various disciplines including biology, pharmacology, clinical research, chemistry, toxicology, phytochemistry and different disciplines of engineering. The company also participates in Public-Private partnerships for developing preventive and curative pharmaceutical and diagnostic products. Over the last decade, Cadila Pharmaceuticals has focused on novel approaches to cancer management and is the first Indian company to get multiple investigational new drug applications (INDs) approval by USFDA. The company has state-of-the-art manufacturing facilities conforming to the most stringent international norms at Dholka, Ankleshwar, Kadi and Hirapur in Gujarat; Samba in Jammu and Kashmir and Addis Ababa in Ethiopia.
About Karolinska Development AB
Karolinska Development aims to create value for patients, researchers, and investors by developing innovations from world class science into products that can be sold or out-licensed with high returns. The business model is to: SELECT the most commercially attractive medical innovations; DEVELOP innovations to the stage where the greatest return on investment can be achieved; and COMMERCIALIZE the innovations through the sale of companies or out-licensing of products. An exclusive deal flow agreement with Karolinska Institutet Innovations AB, along with other cooperation agreements with leading Nordic universities, delivers a continuous flow of innovations. Today, the portfolio consists of 34 projects, of which 15 are in clinical development. For more information, please visit www.karolinskadevelopment.com.
Karolinska Development is listed on NASDAQ OMX. Karolinska Development may be required to disclose the information provided herein pursuant to the Securities Markets Act.