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Clinical Data Acquires Epidauros Biotechnologie AG, Significantly Enhancing Proprietary Genetic Biomarker Portfolio
Genetic Biomarker Portfolio to Have Important Role in Targeted Drug
Development, Dosing Determination, and Pharmacogenetic Testing
Purchase Expands European Presence, Advances PGxHealth Test
Commercialization and Broadens Geographic Reach of Cogenics'
Pharmacogenomics Services
NEWTON, Mass., Aug. 23 /PRNewswire-FirstCall/ -- Clinical Data, Inc.
(Nasdaq: CLDA) announced today that it has acquired privately held
Epidauros Biotechnologie AG of Bernried, Germany, in a cash transaction
valued at 8.75 million euros (or approximately $11.84 million). Epidauros
brings to Clinical Data an established portfolio of proprietary genetic
biomarkers, expertise in genetic biomarker discovery, relationships with
leading diagnostic companies, and a fast-growing pharmacogenomics services
business.
Among the strategic assets acquired by Clinical Data in the transaction
is a significant intellectual property portfolio that includes biomarkers
in genes relating to prominent drug transporters such as MDR1(1), OCT1(2),
MRP1(3), and important cytochrome P450 drug metabolizing genes, such as
CYP2B6(4) and CYP2D6(5). MDR1 encodes P-glycoprotein, a key protein
involved in drug transport that is known to modulate drug disposition. In
addition, the genes CYP2B6, OCT1, and MRP1 are implicated in the
absorption, distribution, and metabolism of many drugs that span a variety
of therapeutic classes and indications, and are likely to be important in
both response and safety profiles for these drugs.
Clinical Data's President and CEO, Drew Fromkin, said, "We are pleased
to have completed this highly strategic transaction, which we believe will
enhance Clinical Data's ability to bring valuable, proprietary
pharmacogenetic tests to market. Epidauros' intellectual property portfolio
holds great promise in critical areas related to drug transport and
distribution. In turn, these genetic markers should play a significant role
in better understanding drug response in individuals."
"The acquisition of Epidauros also brings to us the assets, know-how,
and staff for which Epidauros is so well-respected. In particular,
Epidauros will provide Clinical Data with additional scientific expertise,
biotechnology partnering capabilities and a deep understanding of European
clinical markets. Epidauros has grown its pharmacogenetic services business
in support of the pharmaceutical and biotechnology industries and earned a
reputation for excellence throughout Europe and the US. We expect the
capabilities of Epidauros' laboratories to complement those of Clinical
Data and to contribute a strong local presence in the important German
market. With our operations in the UK and France, this transaction provides
Clinical Data with laboratories in three top European markets."
To further advance the combined abilities of the two companies and to
expand Clinical Data's clinical testing and targeted therapeutics programs,
Michael Lutz, Ph.D., the current CEO of Epidauros, has agreed to join
PGxHealth as the Senior Vice President of Pharmacogenetic Partnerships. Dr.
Lutz commented, "We welcome the opportunity to become a part of Clinical
Data and are excited to join forces and work toward building the world's
leading pharmacogenetic enterprise. At Epidauros, we are proud of our
history of innovation and our track record with respect to providing
pharmacogenetic solutions to many partners. We can now further leverage
Epidauros' and Cogenics' support of pharmaceutical trials with our leading
pharmaceutical clients. Together, the companies have supported more than
1,000 clinical trials over the past several years. Moreover, the
combination of Clinical Data's and our expertise and intellectual property
will greatly enhance the collective ability of the companies to develop
companion diagnostics to guide drug development and prescribing."
"This acquisition parallels what has been happening in the
pharmaceutical industry for many years and should be regarded as being
highly positive," said Professor Munir Pirmohamed, Professor of Clinical
Pharmacology at The University of Liverpool. "It combines the forces of two
well-known companies in this field and provides the infrastructure and
expertise to improve the evidence base that is needed to incorporate
pharmacogenetic diagnostics into clinical practice. I collaborate with both
companies as academic-industrial collaborations are important in keeping
with the research strategies of most governments and are ultimately needed
to show the clinical validity and utility of pharmacogenetics for the
management of expensive and complex disease areas. Hence, genes for drug
transporters, such as MDR1 and OCT1 will prove to be as important as the
Cytochrome P450 system in determining plasma and tissue levels of drugs,
and thereby the efficacy and toxicity of drugs in disease areas including
but not limited to oncology, cardiology, CNS, metabolic, and inflammatory
diseases and pain."
About Clinical Data, Inc.
Clinical Data, Inc. is a global biotechnology company unlocking the
potential of molecular discovery, from targeted science to better
healthcare. Its PGxHealth division focuses on genetic test and biomarker
development to help predict drug safety and efficacy, thereby reducing
health care costs and improving clinical outcomes. Its Cogenics division
provides molecular and pharmacogenomics services to both research and
regulated environments. Its Vital Diagnostics division offers in vitro
diagnostics solutions for the clinical laboratory. Through these divisions,
Clinical Data is leveraging advances in molecular discovery to provide
tangible benefits for patients, doctors, scientists and health plans
worldwide. Visit the company's website at www.clda.com for more
information.
About Epidauros (www.epidauros.com)
Epidauros investigates the genetic factors that influence a person's
response to a drug and makes drug development and therapy safer, more
efficient and more predictive. The company has established itself as a
worldwide leading Pharmacogenetic Research Organization (PRO) providing
innovative, integrated and value-added solutions to an international
customer base consisting of pharmaceutical companies, CROs and other
companies acting in the field of health care.
Thanks to the pharmacogenetic expert knowledge of its qualified
scientific team, Epidauros is a competent partner for contract research to
reveal new pharmacogenetic targets and polymorphisms that impact drug
response. In addition, Epidauros has brought together a network of
competent partners to do research and has established its own intellectual
property base in the field.
The company is located in Bernried near Munich and was founded as a
pioneering company in the field of pharmacogenetics in 1997.
For More Information
Clinical Data
John Schultz
+1-617-527-9933 ext. 3350
jschultz@clda.com
Epidauros
Michael Lutz, Ph.D.
+49 (0)8158 9985 71
michael.lutz@epidauros.com
The Ruth Group
Sara Ephraim (investors)
+1-646-536-7002
sephraim@theruthgroup.com
Jason Rando (media)
+1-646-536-7025
jrando@theruthgroup.com
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM
ACT OF 1995
This press release contains certain forward-looking information about
Clinical Data that is intended to be covered by the safe harbor for
"forward- looking statements" provided by the Private Securities Litigation
Reform Act of 1995, as amended. Forward-looking statements are statements
that are not historical facts. Words such as "expect(s)," "feel(s),"
"believe(s)," "will," "may," "anticipate(s)" and similar expressions are
intended to identify forward-looking statements. These statements include,
but are not limited to statements regarding: our ability to successfully
integrate the operations, business, technology and intellectual property
obtained in our acquisitions; our ability to obtain regulatory approval
for, and successfully introduce our new products; our ability to expand our
long-term business opportunities; our ability to maintain normal terms with
our customers and partners; financial projections and estimates and their
underlying assumptions; and statements regarding future performance. All of
such statements are subject to certain risks and uncertainties, many of
which are difficult to predict and generally beyond the control of the
Company, that could cause actual results to differ materially from those
expressed in, or implied or projected by, the forward- looking information
and statements. These risks and uncertainties include, but are not limited
to: whether our PGxPredict(TM) tests will gain wide acceptance in the
market; the extent to which genetic markers (haplotypes) are predictive of
clinical outcomes and drug efficacy and safety; our ability to achieve the
expected synergies and operating efficiencies from all of our acquisitions;
the strength of our intellectual property rights; competition from
pharmaceutical, biotechnology and diagnostics companies; the development of
and our ability to take advantage of the market for pharmacogenetic and
biomarker products and services; general economic downturns; and other
risks contained in our various SEC reports and filings, including but not
limited to our Annual Report on Form 10-K for the fiscal year ended March
31, 2007, our Quarterly Report on Form 10-Q for the fiscal quarter ended
June 30, 2007, and our Current Reports on Form 8-K filed with the
Securities and Exchange Commission. Readers are cautioned not to place
undue reliance on these forward-looking statements that speak only as of
the date hereof, and we do not undertake any obligation to revise and
disseminate forward-looking statements to reflect events or circumstances
after the date hereof, or to reflect the occurrence of or non-occurrence of
any events.
(1) Multidrug Resistance 1, aka ABCB1 or ATP-Binding Cassette, Subfamiliy
B, Member 1
(2) Organic Cation Transporter 1
(3) Multidrug Resistance-Associated Protein 1, aka ABCC1 or ATP-Binding
Cassette, Subfamily C, Member 1
(4) Cytochrome P450, Subfamily IIB, Polypeptide 6
(5) Cytochrome P450, Subfamily IID, Polypeptide 6
SOURCE Clinical Data, Inc.
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