fyi, a couple of AGPH-related points on the Reuters article on the BMY / Chiroscience MMP deal...
_ of course the product dropped was Thymitaq, not AG3340, AGPH's MMP. Roche however discontinued support of AG3340, along with several other products / research initiatives they had rights to
_ AGPH has some persuasive arguments that 3340 is new generation of MMP, similar to the claims of BMY and Chiroscience.
_ and for Henry's benefit : ) most of us probably know that Glycomed was acquired by LGND a couple of years ago (95?) ... mostly for their cash, rather than for their product technology. Galardin completed PIII quite awhile ago for a niche application, and has been languishing, available for partnering, since then. Not the strongest technology asset in LGND's portfolio ... which is admittedly very strong.
"Bristol-Myers and Chiroscience believe the two drugs represent a new
generation of MMPs, reducing or eliminating side effects such as joint
pain which have been seen in similar treatments drugs under development.
The current MMP race leader is British Biotech Plc , whose inhibitor
Marimastat is in late-stage trials against a range of cancers including
pancreatic and small cell lung cancer. British Biotech shares were down
1-1/4 at 98-1/4.
Other competitors include Germany's Bayer AG AG, whose BAY-129566 is in
Phase II trials, while U.S. group Glycomed Inc and Japan's Sankyo Co Ltd
have a joint product, Galardin, in late stage, or Phase III,
development.
Last month F. Hoffmann-La Roche and Agouron Pharmaceuticals Inc AGPH of
California dropped work on an MMP inhibitor because they said it wasn't
sufficiently superior to existing therapies to justify further
investment." |
