Uppsala, Sweden – August 6, 2014 – Orexo AB (publ) announces today that Boehringer Ingelheim has decided to return the OX-MPI project to Orexo. The project aims to develop products based on specific inhibition of prostaglandin E2 (PGE2) in different disease conditions. Boehringer Ingelheim has since 2005 been responsible for all research and development within the OX-MPI project.
Orexo is evaluating the results from Boehringer Ingelheim and when this is completed will make a final decision on the potential to continue the project with a new external partner. The return of OX-MPI from Boehringer Ingelheim has no direct impact on the financial position of Orexo. The OX‑MPI project is associated with an intangible fixed asset of MSEK 62 from the acquisition of Biolipox and this asset will be impaired if a final decision is taken to discontinue the project.
For further information, please contact:
Nikolaj Sorensen, President and CEO
Tel: +46 (0)703-50 78 88, E-mail: [email protected]
About Orexo AB
Orexo is a specialty pharma company with commercial operations in the United States and R&D in Sweden developing improved treatments using proprietary drug delivery technology and commercial operations in the United States. The company is commercializing its proprietary product, ZUBSOLV® sublingual tablets, for maintenance treatment of opioid dependence, in the United States. The ZUBSOLV® sublingual tablet is a novel formulation of buprenorphine and naloxone using Orexo's extensive knowledge in sublingual technologies. Orexo has a portfolio of two approved and revenue generating products currently marketed under license in the US, EU and Japan. Orexo AB, with its headquarters in Sweden, is listed on NASDAQ OMX Stockholm Exchange and its American Depositary Receipts (ADRs) trade on the OTCQX marketplace in the U.S. under the symbol, "ORXOY". The largest shareholders are Novo A/S and HealthCap.
For information about Orexo, please visit www.orexo.com.
Orexo AB (publ) discloses the information provided herein pursuant to the Financial Instruments Trading Act and/or the Securities Markets Act. The information was submitted for publication at 08:30 am CET on August 6, 2014.