Critical Therapeutics Achieves Collaboration Milestone in HMGB1 Program
Thursday December 8, 8:00 am ET
Demonstrates Efficacy of HMGB1 Antibodies in Preclinical Models of Inflammation
LEXINGTON, Mass.--(BUSINESS WIRE)--Dec. 8, 2005--Critical Therapeutics, Inc. (Nasdaq: CRTX - News) today announced the achievement of a preclinical, proof-of-concept milestone in its High Mobility Group Box 1 (HMGB1) program with MedImmune, Inc. The milestone resulted in a $1.25 million cash payment to Critical Therapeutics, some of which will be recognized as revenue in the fourth quarter of 2005. Along with the milestone payment, MedImmune will fund additional full-time employees at Critical Therapeutics through the end of 2006, representing an incremental commitment to the previous terms of the collaboration agreement.
"Our collaboration with MedImmune has resulted in the development of fully human monoclonal antibodies (MAbs) that provide significant protection in preclinical models of rheumatoid arthritis and sepsis," said Walter Newman, Ph.D., Critical Therapeutics' chief scientific officer. "As a result of achieving this milestone, we are on track to identify a clinical candidate antibody in 2006, which will be followed by additional preclinical studies to support the submission of an Investigational New Drug application."
About Anti-HMGB1 MAb
HMGB1, a pro-inflammatory protein secreted by different cell types, is part of the body's response to trauma and infection. HMGB1 is expressed at high levels beginning 12 to 72 hours after an injury, which is about the time inflammation-associated tissue damage begins. Because of the timing and duration of expression of HMGB1, it may be an important factor in the sequence of events that result in severe tissue damage following injury or during chronic inflammation. Preclinical data suggest that a blocking antibody to HMGB1 may provide protection in chronic diseases, such as rheumatoid arthritis, and in acute life-threatening conditions, such as sepsis.
Inflammation is a key contributor to a number of chronic and acute diseases, including rheumatoid arthritis and sepsis, which have been the focus of the collaboration to date. According to the Arthritis Foundation, rheumatoid arthritis affects one percent of the U.S. population, or 2.1 million Americans, and the Centers for Disease Control and Prevention estimate that three quarter of a million people develop severe sepsis each year in the U.S. and that more than 200,000 of those people do not survive.
About Critical Therapeutics
Critical Therapeutics, Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of products for respiratory, inflammatory and critical care diseases. The Company owns worldwide rights to ZYFLO® (zileuton tablets), as well as other formulations of zileuton. ZYFLO is the only 5-lipoxygenase inhibitor approved for marketing by the U.S. Food and Drug Administration. The Company's commercialization efforts for ZYFLO are carried out by its 80-person specialty sales force. Critical Therapeutics also is developing treatments directed toward the severe inflammatory response in acute diseases and conditions that lead to admission to the emergency room or intensive care unit, and acute exacerbations of other chronic diseases that frequently lead to hospitalization. For more information, please visit www.crtx.com. |
