DeveloGen and Teva Enter into Exclusive License Agreement for
DeveloGen's Protein Kinase B Technology for the Treatment of Cancer
Goettingen, Germany June 19, 2007: DeveloGen Israel Limited
("DeveloGen"), a wholly owned subsidiary of DeveloGen AG, today
announced that DeveloGen, through its newly formed subsidiary
CureGenics Limited, has granted a worldwide exclusive license to Teva
Pharmaceutical Industries Limited (Teva) to its Protein Kinase B
("PKB") technology for the treatment of cancer.
Under the terms of the agreement, DeveloGen has granted a worldwide
exclusive license to its proprietary PKB technology to Teva. Through
this license, Teva also gains access to a number of pre-clinical
compounds which it plans to develop in the area of cancer treatment.
DeveloGen will receive royalties upon commercialisation of products
derived from the PKB technology and Teva has further monetary
obligations towards DeveloGen upon signing of the agreement as well
as successful completion of key developmental and regulatory
milestones prior to commercialisation.
"With Teva, we have found a strong partner for this highly innovative
program", said Carsten Dehning, Chief Financial Officer of DeveloGen.
"Teva's proven expertise in the successful development and marketing
of ethical drugs will be instrumental in bringing this novel
treatment to the many patients suffering from cancer. This deal
underlines our strategy of focusing on metabolic and endocrine
disorders while at the same time maximising the return on our
non-core assets."
For further information please contact:
DeveloGen AG
Carsten Dehning
Chief Financial Officer
Marie-Curie-Strasse 7
37079 Goettingen, Germany
Phone: +49 551 50558 525
Email: info@develogen.com
About Protein Kinase B (PKB/Akt)
PKB is a highly validated anti-cancer drug target which addresses in
particular a very important tumour survival pathway. The target is a
ser/thr kinase which can be activated by many growth factors and has
been implicated in anti-apoptotic but also in pro-proliferative
processes. PKB has been found to be highly active in various tumours
contributing to their growth and survival as well as resistance to
chemotherapy. Due to their novel mechanism of action, DeveloGen's PKB
inhibitors offer the potential for both a potent monotherapy as well
as a combination treatment with existing therapies.
DeveloGen
DeveloGen AG is a biopharmaceutical company engaged in the discovery
and development of novel therapeutics for the treatment of metabolic
and endocrine disorders. The Company's most advanced drug candidate
Somatoprim, a potentially best-in-class somatostatin analogue for the
treatment of acromegaly and diabetic retinopathy, is in preparations
for phase I clinical studies. In addition, DeveloGen has a deep and
highly complementary discovery pipeline including a small molecule
program based on a novel and proprietary target to address insulin
resistance (type 2 diabetes) and a growth factor targeting beta-cell
regeneration (type 1 and type 2 diabetes). DeveloGen is based in
Goettingen, Germany. For more information on DeveloGen, please visit
www.develogen.com.
