OXFORD, England, March 2, 2011 /PRNewswire/ -- Syntaxin, a biotechnology company developing novel biopharmaceuticals to control cell secretion, today announces its partner Allergan, Inc has initiated two Phase II trials to evaluate the safety and efficacy of its re-targeted endopeptidase drug candidate AGN-214868. The Phase II trials will be focused on patients with post herpetic neuralgia (PHN) and overactive bladder. With the initiation of Phase II trials, Syntaxin's drug technology platform reached a significant point of development and triggered an undisclosed milestone payment. Allergan provided an update in its Q4 2010 earnings call on 2nd February 2011.
AGN-214868 was discovered under the collaboration using Syntaxin's proprietary discovery platform. Under this agreement, Allergan is responsible for the clinical development, marketing and sales of identified drug candidates. Syntaxin receives milestone payments and royalties on product sales.
Dr Melanie Lee, CEO of Syntaxin, commented: "The progression of AGN-214868 into Phase II trials is a very important milestone for Syntaxin and validates the strength of our technology platform. The additional therapeutic application of AGN-214868 for overactive bladder widens the application of the re-targeted endopeptidase drug candidate across two distinctively separate disease markets of significant unmet medical need. The versatility of our Targeted Secretion Inhibitors (TSI) platform has enabled Syntaxin to develop exciting proprietary pre-clinical candidates outside pain, in areas such as endocrinology and oncology. This provides Syntaxin with a strong foundation to develop additional value from future partnerships with other pharmaceutical and biotechnology companies."
Notes for Editors
About Syntaxin (http://www.syntaxin.com)
Syntaxin discovers and develops a new class of biopharmaceuticals which treat disease through selective inhibition of cell secretory processes. It is developing cell secretion inhibitors for the treatment of a range of endocrine diseases, including acromegaly.
Syntaxin's new Executive Management, appointed in February 2010, brings a wealth of industry experience to the Company. Chief Executive Officer, Dr Melanie Lee, spent a decade in research with GlaxoSmithKline and subsequently held leadership positions at Celltech and UCB. Chief Business Officer, Dr Nigel Clark, was formerly Vice President Business Development with Vernalis and has a strong track record in building strategic alliances. Dr Jon Court, Chief Development Officer, was previously founder and CEO of Fulcrum Pharma, an international contract drug development business, following R&D roles at Roche and Wellcome.
Syntaxin was founded in late 2005 through a spinout of intellectual property and scientists from the Health Protection Agency, and benefits from 15 years of research in the field of bacterial toxin engineering. The company owns dominant patents and know how in the design, manufacture and use of novel cell TSI based on engineered botulinum toxins. It has established a strong IP base with over 40 granted patents covering the platform and products. It is backed by a blue chip investor base including: Abingworth, Lundbeckfond Ventures, LSP, Ipsen, JJDC, Quest, Seventure, and SR One.
Syntaxin's Targeted Secretion Inhibitors (TSI) technology platform
Syntaxin's TSI products are biological molecules synthesized in microbial cell culture, which selectively bind to their chosen targeted cells and become internalised to deliver endopeptidases into the cell's cytoplasm, preventing further vesicular secretion. A single dose provides an extended duration of action from weeks to months.
Allergan Forward-Looking Statements
This press release contains "forward-looking statements," including, but not limited to, the statements by Dr Melanie Lee and other statements regarding clinical development, marketing and sales of Allergan's Re-Targeted Endopeptidase Drug candidate AGN-214868. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from Allergan's expectations and projections. Risks and uncertainties include, among other things, general industry and pharmaceutical market conditions; technological advances and patents attained by competitors; challenges inherent in the research and development and regulatory processes; challenges related to product marketing, such as the unpredictability of market acceptance for new products and/or the acceptance of new indications for such products; inconsistency of treatment results among patients; general economic conditions; and governmental laws and regulations affecting domestic and foreign operations. Allergan expressly disclaims any intent or obligation to update these forward-looking statements except as required by law. Additional information concerning the above-referenced risk factors and other risk factors can be found in Allergan's public periodic filings with the Securities and Exchange Commission, including the discussion under the heading "Risk Factors" in Allergan's 20010 Annual Report on Form 10-K. Additional information about Allergan is available at http://www.allergan.com or you can contact the Allergan Investor Relations Department by calling +1-714-246-4636.
Contact Details Syntaxin Ltd Nigel Clark Tel: +44(0)1235-552161 Email: firstname.lastname@example.org Media Capital MS&L Mary Clark, Justine Lamond & Hollie Vile Tel: +44-(0)20-7307-5337 Email: Syntaxin@capitalmsl.com