TOKYO and PHOENIX, Dec. 1, 2017 /PRNewswire/ -- Daiichi Sankyo Company, Ltd. (hereafter, Daiichi Sankyo) and Translational Sciences today announced that Daiichi Sankyo will return all rights to develop and commercialize Translational Sciences' investigational thrombus (blood clot) dissolving agent, TS23, after a successful Phase 1a clinical trial.
"Translational Sciences has been an excellent partner," said Marielle Cohard-Radice, Executive Vice President, Global Head of Development of Daiichi Sankyo. "Our decision to terminate this agreement is based solely on our efforts to re-prioritize and re-focus our portfolio."
"While we enjoyed a successful partnership with Daiichi Sankyo, we understand the reprioritization of their portfolio," said Guy Reed, MD of Translational Sciences. "There is a significant need for a safe, effective therapy for the millions of people who suffer from ischemic stroke, venous thromboembolism and myocardial infarction. After completing a successful Phase 1a trial, we are committed to advancing the clinical development of this novel monoclonal antibody for the benefit of patients with cardiovascular diseases."
Daiichi Sankyo took an impaired loss of approximately 2.4 billion yen (20 million U.S. dollars) in the second quarter consolidated financial result for FY2017 (IFRS), reflecting payments made in 2015 to Translational Sciences under the terms of the development agreement.
About Daiichi Sankyo
Daiichi Sankyo Group is dedicated to the creation and supply of innovative pharmaceutical products to address diversified, unmet medical needs of patients in both mature and emerging markets. With over 100 years of scientific expertise and a presence in more than 20 countries, Daiichi Sankyo and its 15,000 employees around the world draw upon a rich legacy of innovation and a robust pipeline of promising new medicines to help people. In addition to a strong portfolio of medicines for hypertension and thrombotic disorders, under the Group's 2025 Vision to become a "Global Pharma Innovator with Competitive Advantage in Oncology," Daiichi Sankyo research and development is primarily focused on bringing forth novel therapies in oncology, including immuno-oncology, with additional focus on new horizon areas, such as pain management, neurodegenerative diseases, heart and kidney diseases and other rare diseases. For more information, please visit: www.daiichisankyo.com. Daiichi Sankyo, Inc., headquartered in Basking Ridge, New Jersey, is a member of the Daiichi Sankyo Group. For more information on Daiichi Sankyo, Inc., please visit: www.dsi.com.
About Translational Sciences
Translational Sciences, Inc. (Phoenix, AZ, USA) is a clinical stage, biopharmaceutical company. Initial development of TS23 was supported in part by the National Institutes of Health through National Heart, Lung, And Blood Institute (Award R44HL092750) and the National Institute Of Neurological Disorders And Stroke (Award U44NS073147).*
*This press release does not necessarily represent the official views of the National Institutes of Health.
Daiichi Sankyo, Inc.
SOURCE Daiichi Sankyo