(1888PressRelease)
November 27, 2007 - SYGNIS Pharma AG (Frankfurt: LIO; ISIN DE0005043509; Prime Standard) and the leading Indian pharmaceutical company Dr. Reddy’s Laboratories (NYSE: RDY) today announced the sign-ing of an exclusive 10 year agreement for the supply of the active pharmaceutical ingredient AX200, a biological molecule in development by SYGNIS for the treatment of Stroke and other neurodegenerative disorders. The Agreement secures the supply of AX200 far beyond the clinical development and provides a solid basis for the envisaged marketing of the compound.
SYGNIS successfully completed a Phase IIa clinical trial of AX200 in September, that demonstrated safety and efficacy in patients with acute Stroke. In the second half of 2008, SYGNIS plans to start a Phase IIb efficacy trial in acute Stroke with AX200 sup-plied by Dr. Reddy’s. Stroke affects over 5 million patients worldwide every year and is the third leading cause of death, presenting a major socio-economic burden.
Dr. Alfred Bach, Chief Executive Officer, SYGNIS Pharma AG, said, "Our collaboration with Dr. Reddy’s represents an important milestone in the development of AX200 which we believe has potential to significantly improve the treatment perspective for millions of patients globally. The long-term access to secure production sources for AX200 is a major step on SYGNIS’ way to becoming a product-focused company. This provides us with the flexibility to optimize our marketing strategy for this product. The fact that Dr. Reddy’s entered into this collaboration also reflects their confidence in the enormous potential of AX200.”
Dr. Cartikeya Reddy, Head of Biologics at Dr. Reddy’s, said, "Biopharmaceutical Services is a fast growing business segment globally with a limited number of service pro-viders. Our strategic decision to exclusively produce a biological molecule for a partner is a first in the history of Dr. Reddy’s and fits very well within our Custom Pharmaceutical Services' business model. We are very optimistic that AX200 will continue to show real potential in the treatment of Acute Stroke with the potential to be used in the treatment of other degenerative neurological diseases."
About AX200
AX200 for the treatment of acute stroke is the most advanced drug candidate in SYG-NIS’ product pipeline. The AX200 protein is produced at highly elevated levels in the brain, as part of an endogenous protective mechanism after brain damage. Thus, if this drug administered in the acute phase of Stroke, the brain’s own protective action is fur-ther boosted. This offers a highly beneficial, dual neurotherapeutic approach which has been discovered by SYGNIS. AX200 stops neuronal cell death in the acute phase of Stroke, and in addition, it stimulates the regeneration of the already damaged nervous tissue through the stimulation of neurogenesis as well as arteriogenesis and the reor-ganisation of neuronal networks. Besides Stroke, AX200 is currently in preclinical testing for further neurodegenerative indications such as Amyotrophic Lateral Sclerosis (ALS).
About SYGNIS Pharma:
SYGNIS Pharma AG, with head offices in Heidelberg, is a specialty pharmaceutical Company listed on the Prime Standard of the German stock exchange. The Company is focused on the research, development and marketing of innovative therapies for the treatment of neurodegenerative diseases. These include stroke, Amyotrophic Lateral Sclerosis (ALS), Huntington's Disease and neurological disorders resulting from injury, such as trauma of the brain or spinal cord. All these disorders are characterized by the fact that, as the disease progresses, nerve cells are damaged and die. Although there is great medical demand, there are currently no or only inadequate treatment options available.
About Dr. Reddy’s:
Established in 1984, Dr. Reddy's Laboratories (NYSE: RDY) is an emerging global pharmaceutical company with proven research capabilities. The Company is vertically integrated with a presence across the pharmaceutical value chain. It produces finished dosage forms, active pharmaceutical ingredients and biotechnology products and mar-kets them globally, with focus on India, US, Europe and Russia. The Company conducts research in the areas of cancer, diabetes, cardiovascular, inflammation and bacterial infection. ( www.drreddys.com )
SYGNIS Pharma AG Contact Information:
Dr. Franz-Werner Haas
Vice President Operations
+49 (0) 6221 454 812
franz-werner.haas ( @ ) sygnis dot de
Dr. Reddy’s Contact Information:
Custom Pharmaceutical Services Europe:
Marcel Velterop at marcelvelterop ( @ ) drreddys dot com or on +41 (0)797733453
Investors and Financial Analysts:
Nikhil Shah at nikhilshah ( @ ) drreddys dot com or on +91-40-23731946 ext. 308
Media:
Mythili Mamidanna at at mythilim ( @ ) drreddys dot com or on +91-40-66511620
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