27th Jan 2006 07:00
Asterand PLC27 January 2006 BTG Licenses Analgesic Compounds from Asterand Lead compound has potential to improve the treatment of migraine London, January 27th, 2006- Asterand plc (LSE: ATD) (formerly Pharmagene plc),and BTG plc (LSE: BGC), the medical innovations company announce that thecompanies have entered into an exclusive licence agreement, whereby BTG acquiresthe rights to a series of compounds discovered and developed by Asterand totreat painful conditions such as migraine headache. The compounds arise from Asterand's R4 development programme. They are selectiveEP4 receptor antagonists, designed to specifically block the actions ofprostaglandin E2 involved in pain and inflammation without affecting thebeneficial effects of prostaglandins. The lead molecule, BGC20-1531 (previouslyPGN1531) is in preclinical studies. It prevents prostaglandin E2 induceddilation of blood vessels in human cerebral vasculature an effect whichcontributes to the pain of migraine headache. BTG plans to advance the development of BGC20-1531 into clinical trials and willcontinue the evaluation of this and other molecules in the programme for othertherapeutic indications. BTG will pay Asterand an undisclosed downpayment as well as success-baseddevelopment milestones and royalties. Commenting on the acquisition, BTG's CEO Louise Makin said: "These compoundsrepresent a valuable addition to our growing drug development portfolio at BTG.Effective and safe treatments for pain remain an area of significant unmet needand is an area in which we are building our portfolio." Randal Charlton, Chief Executive Officer of Asterand plc said: "Following thecompletion of our recent merger Asterand is seeking to realise the value ofPharmagene's therapeutics portfolio. We are delighted to have reached thisagreement with BTG and are seeking partners for other programmes. We believeBTG has the necessary resources and expertise to exploit the value of the R4programme for the benefit of both companies." About BTG BTG acquires rights to early stage pharmaceuticals and other medicaltechnologies from a global network of corporations, universities and researchinstitutions. We apply resources, including finance, intellectual property andproject management skills to fund and manage outsourced preclinical and clinicaldevelopment programs. We then commercialise the technologies by licensing topharmaceutical or device companies, or by creating companies to exploit them.Our pipeline comprises around 50 assets at varying stages of development,contributing to an increasing range of products marketed by our licensees. BTGoperates from London, Philadelphia and Osaka. For further information, visitwww.btgplc.com. About Asterand Asterand plc, formed by the merger of Pharmagene plc and Asterand, Inc. is aleading supplier of high quality human tissue and tissue-based services. Ourcomprehensive approach to human tissue and research services offers drugdiscovery companies the unique opportunity to have one company meet all of theirhuman biomaterial needs along the continuum of drug discovery. Our mission is toaccelerate target discovery and validation, leading to new and improvedtherapeutics. www.asterand.com Contacts: AsterandRandal Charlton, Chief Executive OfficerRonald Openshaw, Chief Financial OfficerAsterand plc+44 (0)1763 211600 BTG Andy Burrows, Director of Investor Relations+44 (0)20 7575 1741 Financial Dynamics Ben AtwellSarah MacleodAnna Keeble+44 (0)20 7831 3113 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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