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In addition to the joint research collaboration agreement, Amylin has madean equity investment in Xenome matched by investments from QueenslandBioCapital Funds and Innovis Australia.
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Under the collaboration, Amylin will apply its proprietary screeningtechnologies to evaluate the therapeutic potential of the peptides fromXenome's proprietary bioactive peptide library derived from natural sources.Amylin will have the right to select and exclusively license lead candidatesresulting from a screening program in metabolic and musculoskeletal diseasefor further development and commercialization in exchange for milestonepayments and royalties payable to Xenome.
"This collaboration with Amylin is an important strategic move for Xenomeas it provides us with funding, and the ability to leverage our peptidechemistry capabilities in a therapeutic area outside of Xenome's currentfocus." commented Xenome's CEO Lewis Lee. "Amylin's research organization hassuccessfully created several peptide therapies for the treatment of diabetesand potentially obesity."
"We are pleased to be working with Xenome," said Michael Hanley, Ph.D.,Vice President, Discovery Research at Amylin. "Amylin is committed to bringinginnovative medicines with life-changing therapeutic potential to patients.This mutually beneficial collaboration combines Xenome's proprietary peptidelibrary with Amylin's therapeutic expertise and creates valuable opportunitiesto discover and develop novel therapeutics."
To date, Xenome's focus has been in the discovery and development of novelleads for the treatment of pain and inflammatory conditions. Xenome's mostadvanced clinical product, Xen2174, is currently in a Phase 1b/2a clinicaltrial for treatment of cancer pain. This clinical trial is near finalizationand the interim results are encouraging, providing the Company the confidenceto initiate a Phase 2b clinical program in 2008.
Xenome has generated a peptide database, containing over 8,000 peptidesfrom natural sources. From this collection Xenome has synthesized andcharacterized over 2500 individual peptides to generate a novel library fornew drug discovery. This library complements additional peptide libraries atXenome comprised of other novel peptide analogues.
About Xenome
Xenome is a biotechnology company based in Brisbane Australia with apromising and distinctive technology platform targeting pain and inflammation.Xen2174, the Company's lead product candidate is near completion of a Phase1b/2a clinical trial for cancer pain. Evidence to date strongly indicates asuccessful completion to this clinical trial and more substantive clinicaltrials are planned for 2008. Xenome has generated a unique expertise inpeptide chemistry that can translate peptides from natural sources into highlybioactive libraries of molecules that are of interest to global biotechnologyand pharmaceutical companies.Further information: Lewis Lee Director & CEO Xenome Ltd Tel: +61 7 3720 8055 E-mail: [email protected] Website: www.xenome.com
SOURCE Xenome
