29th Apr 2014 09:48
LONDON (Alliance News) - Oxford Biomedica PLC said Tuesday that it will regain the worldwide rights to its treatment for wet age-related macular generation treatment RetinoStat from Sanofi SA, after Sanofi decided not to continue developing the treatment.
Sanofi has opted not to continue development of RetinoState beyond the currently underway Phase I study due to "pipeline prioritisations". Sanofi does not expect this to affect the results from the study.
Oxford Biomedica noted that it has received interest in ReintoStat from pharmaceutical and biotech company and financial investors in the past. As a result, it expressed confidence that once it has results from the Phase I study, it will see demand for the product.
Sanofi will continue to work with Oxford Biomedica on its UshStat and StarGen gene therapies.
Shares in Oxford Biomedica were trading down 10% at 1.97 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Oxford Biomedica