Monday August 13, 7:31 am Eastern Time
Press Release
SOURCE: Collateral Therapeutics, Inc.
Collateral Receives $4.0 Million Payment From Schering AG for Clinical Advancement of Its Angiogenic Gene Therapies
SAN DIEGO, Calif., Aug. 13 /PRNewswire/ -- Collateral Therapeutics, Inc. (Nasdaq: CLTX - news) announced today that the Company had received a $4.0 million payment from its development partner, Schering AG, Germany (NYSE: SHR - news), for the clinical advancement of Collateral's non-surgical angiogenic gene therapy technologies.
GENERX(TM), a non-surgical angiogenic gene therapy designed for the potential treatment of stable exertional angina due to coronary artery disease is advancing to large-scale, Phase 2b/3 Pivotal trials both here in the United States and in Europe. GENVASCOR(TM), which is designed for the potential treatment of peripheral vascular disease, is advancing from pre-clinical status to Phase 1/2 human clinical trials in Europe. Under the terms of a collaboration, license and royalty agreement entered into with Schering AG, either Schering AG or its affiliates would be responsible for conducting and financing these trials for GENERX and GENVASCOR. Additional information regarding the design of these clinical trials can be found in Collateral's press release dated June 18, 2001.
Collateral Therapeutics, Inc., headquartered in San Diego, is a leader in the discovery and development of innovative gene therapy products for the treatment of cardiovascular diseases. Collateral Therapeutics is developing non-surgical cardiovascular gene therapy products focused on: (1) angiogenesis, as a treatment approach for coronary artery disease, peripheral vascular disease and congestive heart failure; (2) myocardial adrenergic signaling, as a treatment for congestive heart failure; and (3) heart muscle regeneration, to improve cardiac function for patients who have suffered a heart attack. <snip> |
