Janssen Acquires CorImmun
NEUSS, Germany, June 28, 2012 /PRNewswire via COMTEX/ -- Janssen-Cilag GmbH (Janssen) today announced it has completed the acquisition of CorImmun GmbH, a privately held drug development company in Germany, for an undisclosed upfront payment and a contingent future clinical milestone payment.
CorImmun's lead compound, COR-1, is a small cyclic peptide currently in early clinical development for the treatment of heart failure. COR-1 has been shown in preclinical studies to improve heart function by decreasing autoimmune, beta 1 receptor-simulating antibody effects. Under terms of the agreement, Janssen and its affiliates immediately assume full development and global commercialization responsibilities for the compound.
Heart failure is generally a progressive disease characterized by the heart muscle's inability to adequately pump oxygenated blood through the body. An estimated 23 million people around the globe have been diagnosed with heart failure, a number that is projected to increase. For most causes of heart failure, there is no known cure.
"The prevalence of heart failure is rising rapidly, and COR-1 is an early stage development compound with a novel mechanism for treating heart failure that has the potential to improve heart function by suppressing antibodies that can exacerbate this condition," said Peter M. DiBattiste, M.D., Global Therapeutic Area Head, Cardiovascular Disease and Metabolism at Janssen Research & Development. "This acquisition demonstrates Janssen's commitment to investing in innovative science in an area of great unmet medical need, where new therapies can improve the quality of patient care."
About JanssenAt Janssen we are dedicated to addressing and solving some of the most important unmet medical needs of our time in oncology, immunology, neuroscience, infectious diseases and vaccines, and cardiovascular and metabolic diseases. Driven by our commitment to patients, we develop innovative products, services and healthcare solutions to help people throughout the world. Janssen-Cilag GmbH and Janssen Research & Development, LLC are part of the Janssen Pharmaceutical Companies of Johnson & Johnson. Please visit http://www.janssenrnd.com for more information.
For more information on rivaroxaban, please contact:
Media: Christina ChanPhone: 908.927.5769 Mobile: [email protected]
Investors: Stan PanasewiczPhone: 732.524.2524
Louise Mehrotra Phone: 732.524.6491