Wyeth extends involvement in hedgehog program for neurological disorders.
>>CAMBRIDGE, Mass.--(BUSINESS WIRE)--Nov. 21, 2005--Curis, Inc. (NASDAQ: CRIS - News), a therapeutic drug development company, today announced that Wyeth has exercised its option under the 2004 agreement to extend funding to continue development of therapeutic applications of the Hedgehog agonist with a primary focus on neurological disorders. By exercising this option, Wyeth has agreed to extend the research term by one year through February 9, 2007 (previously February 9, 2006). Curis expects Wyeth to select a development candidate in the next twelve to eighteen months, and to file an investigational new drug, or IND, application approximately twelve months thereafter.
"We are encouraged by the continued dedication that Wyeth has shown to the Hedgehog agonist program for neurological disorders. The extension of funding for the program serves as a validation of the progress made to date on this program, and we look forward to working with Wyeth to select a development candidate for stroke and other neurological disorders," said Daniel R. Passeri, President and Chief Executive Officer of Curis, Inc. "By meeting with Wyeth scientists on a quarterly basis, Curis is able to learn more about the late preclinical development process, which may prove to be invaluable at a later date when Curis prepares to move its own products from preclinical development into the clinic."
About the Wyeth Agreement
In January 2004, Curis entered into a collaboration agreement with Wyeth to continue the development of drug candidates for the treatment of neurological disorders and other potential indications. Wyeth is one of the world's largest research-driven pharmaceutical companies with broad expertise in the development of drugs to treat neurological disorders and other diseases. Under the terms of the collaboration, Wyeth paid Curis an up-front license fee and is obligated to provide two years of research funding and recently extended its funding for an additional year. In addition, if clinical development of any Hedgehog agonist technology-based products is successful, Wyeth is obligated to pay Curis clinical milestone payments and royalties on product sales. Under terms of the updated agreement, Wyeth can terminate the relationship within 60 days of written notice.<<
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