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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: John Metcalf who wrote (20730)	10/4/2006 11:41:28 AM
From: technetium	Respond to of 52153

BIIB inks deal with UCB for new MS drug. Sounds like BIIB is not wedded to Tysabri or ELN. >>UCB and Biogen Idec to Collaborate on Oral Multiple Sclerosis Therapy BRUSSELS, BELGIUM -- (MARKET WIRE) -- October 02, 2006 -- Companies to Co-Develop and Co-Commercialize Small Molecule Compound Being Studied for the Treatment of Relapsing-Remitting Multiple Sclerosis Brussels (Belgium) and Cambridge, MA (USA) - October 2, 2006 - 10:01 pm CET / 4:01 pm EST - UCB (Euronext Brussels: UCB) and Biogen Idec (NASDAQ: BIIB) today announced a global collaboration to jointly develop and commercialize CDP323 for the treatment of relapsing-remitting multiple sclerosis (MS) and other potential indications. CDP323 is an orally active small molecule alpha4-integrin inhibitor expected to enter Phase II clinical trials next year. Under terms of the agreement, UCB will receive upfront and additional payments for development and commercial milestones in excess of 200 million US dollars. Furthermore Biogen Idec will contribute significantly to clinical costs for Phase II and Phase III studies. All commercialization costs and profits will be shared equally. "Multiple Sclerosis affects more than a million people worldwide and we are delighted to be collaborating with Biogen Idec on our exciting CDP323 program. CDP323 has arisen from UCB's in-depth understanding of integrin biology and chemistry to address this difficult protein target. Our outstanding Phase I results encourage us to move rapidly into Phase II trials in MS patients. We believe that if trials are successful CDP323 could make a real difference for MS patients with this severe and debilitating disease," stated Melanie Lee, Executive Vice President, Research & Development for UCB. "We are always looking to enhance and expand our arsenal in the fight against MS," said Al Sandrock, Senior Vice President, Neurology Research and Development for Biogen Idec. "Another effective oral therapy would augment Biogen Idec's broad portfolio of products and potential therapies in development for this debilitating disease. We are pleased that UCB has decided to partner with us on such a promising program." About CDP323 CDP323 is a potent and orally active small molecule prodrug antagonist of alpha4-integrins. The safety, tolerability and pharmacokinetic profile of CDP323 have been evaluated in healthy volunteers in three separate Phase I studies. CDP323 was well tolerated with an adverse event profile comparable to placebo. Data from these studies have been reported at the 2006 European Committee for Treatment and Research in Multiple Sclerosis (ECTRIMS). About Multiple Sclerosis MS is a chronic disease of the central nervous system that affects approximately 400,000 people in North America and more than one million people worldwide. It is a disease that affects more women than men, with onset typically occurring between 20 and 50 years of age. MS is caused by damage to myelin, the protective sheath surrounding nerve fibers in the central nervous system, which interferes with messages from the brain to the body. Symptoms of MS may include vision problems, loss of balance, numbness, difficulty walking and paralysis. About UCB UCB (www.ucb-group.com) is a leading global biopharmaceutical company dedicated to the research, development and commercialisation of innovative pharmaceutical and biotechnology products in the fields of central nervous system disorders, allergy/respiratory diseases, immune and inflammatory disorders and oncology. UCB focuses on securing a leading position in severe disease categories. Employing over 8,300 people in over 40 countries, UCB achieved revenue of 2.3 billion euro in 2005. UCB is listed on the Euronext Brussels Exchange and its worldwide headquarters are located in Brussels, Belgium. <<