Organon Announces Acquisition of Kadmus Pharmaceuticals' FAAH Inhibitor Technology
OSS, the Netherlands and IRVINE Calif., June 26, 2007 – N.V. Organon, the human healthcare business unit of Akzo Nobel, today announced an asset purchase of the Fatty Acid Amide Hydrolase (FAAH) technology from Kadmus Pharmaceuticals, Inc. in Irvine CA (USA).
Under the asset purchase agreement, Organon has acquired world-wide rights and control of all assets relating to FAAH owned or controlled by Kadmus Pharmaceuticals. These assets include KDS-4103, a phase 1-ready compound under exclusive license from the University of California at Irvine; several patent families owned by Kadmus; and the Kadmus compound library including novel second generation FAAH inhibitors. In addition, Organon has agreed to employ a majority of Kadmus staff to ensure appropriate transfer of the technology and has maintained Kadmus Pharmaceuticals’ relationship with one of the founders, Dr. Daniele Piomelli. The transaction includes an upfront payment to Kadmus and future success-based milestone payments for the lead compound and any back-up and/or follow-on compounds developed and commercialized.
David Nicholson, executive vice president Research and Development at Organon added: "We are excited to bring this technology in house which complements our cannabinoid programs. Kadmus has done a great job of advancing the technology to this point. With this acquisition Organon gains a competitive program and know-how in this novel target with potentially broad therapeutic applicability."
"We spent several years developing this exciting FAAH inhibitor technology and recently performed a comprehensive search for the appropriate partner to take it to the next level. We are pleased to announce that Organon will continue to move the FAAH inhibitor program into clinical and commercial development. The Organon team worked diligently to ensure a successful transaction and we look forward to the continued success of the FAAH program under their business and scientific leadership", commented Patrick Walsh, CEO of Kadmus Pharmaceuticals.
About FAAH
Fatty acid amide hydrolase (FAAH) is a mammalian integral membrane enzyme that has been shown to catalyze the degradation of the fatty acid ethanolamide (FAE) family of endogenous signaling lipids, including the endogenous cannabinoid (CB) receptor agonist anandamide, thus terminating their effects.
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Inhibitors of FAAH are being developed as promising new pharmacological agents that selectively augment endogenous cannabinoid ("endocannabinoid") activity without the side effects associated with global CB receptor activation. This class of agents shows considerable promise for treating several types of pain, anxiety, depression and other potential spin-off indications. The acquired compounds are very potent, highly selective and orally active. It is believed that these characteristics, along with a novel mechanism of action make this class of compounds an excellent opportunity in new drug development.
About Organon Organon creates, manufactures and markets innovative prescription medicines that improve the health and quality of human life. Through a combination of innovation and business partnerships, Organon seeks to leverage its position as a leading biopharmaceutical company in each of its core therapeutic fields: fertility, gynecology and selected areas of anesthesia. It has extensive expertise in neuroscience and a rich and focused R&D program. Research areas also include immunology and specific areas of oncology. Organon products are distributed in over 100 countries worldwide, of which more than 50 have an Organon subsidiary. Organon is the human healthcare business unit of Akzo Nobel.
About Kadmus
Kadmus is a privately-held, venture-capital backed biotechnology company created to exploit opportunities in the endocannabinoid field. With the successful asset sale of its key technology, Kadmus has sub-licensed its laboratory and corporate headquarters in Irvine, CA to Organon. The Kadmus board of directors include Dr. Robert McNeil of Sanderling Ventures, Jeff Courtney of VenGrowth Venture Partners, Annette Bianchi of VantagePoint Venture Partners, Dr. Mark Cochran of NeuroVentures Fund, and CEO Patrick Walsh.
For more information:
Organon Kadmus
Elina Daamen Patrick Walsh, CEO Kadmus Pharmaceuticals Inc
Media Relations 101 Theory, Suite 100
Tel: +31 (0)412-663685 Irvine, CA 92617, USA
E-mail:[email protected] Tel: (949)725-3700 ext.11
www.organon.com Email: [email protected]
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