Idera Pharmaceuticals Announces Extension of Research Collaboration on Asthma and Allergy
06 Mars 2007 - 1:30PM
Business Wire
Idera Pharmaceuticals Inc. (AMEX: IDP), announced today that
Novartis has decided to extend the term of the research phase of
their collaboration by one year. This extension is in accordance
with the terms of the collaboration between the two companies,
which began in June, 2005. Under the terms of this agreement, Idera
will receive a $1.0 million payment and Novartis will continue to
fund research activity conducted under the agreement. �We are
delighted with the progress made to date under our collaboration
agreement, and we are pleased that Novartis has elected to extend
the term of the research phase of the collaboration for an
additional year,� said Sudhir Agrawal, D.Phil., Chief Executive
Officer and Chief Scientific Officer of Idera Pharmaceuticals. The
Company�s agreements with Novartis are structured in two phases.
During the research collaboration phase, Idera and Novartis have
agreed to work and are working together to evaluate novel TLR9
agonists from which Novartis may select candidates for further
development through human clinical �proof of concept� trials. Based
on the initial results, Novartis may then elect to implement the
commercialization agreement, complete the development, and
commercialize one or more of the TLR9 agonist candidates in the
fields of asthma and allergy. About Idera Pharmaceuticals, Inc.
Idera Pharmaceuticals is a drug discovery and development company
that is developing drug candidates to treat cancer and infectious,
respiratory, and autoimmune diseases, and for use as vaccine
adjuvants. Idera�s proprietary drug candidates are designed to
modulate TLRs, the body�s first line of immune defense. Idera�s
pioneering DNA chemistry expertise enables it to identify drug
candidates for internal development and creates opportunities for
multiple collaborative alliances. Idera�s most advanced clinical
candidate, IMO-2055, is an agonist of TLR9 and is currently in a
Phase 2 trial in oncology and in a Phase 1/2 chemotherapy
combination trial in oncology. Idera has selected a second TLR9
agonist, IMO-2125, as a lead candidate for treating infectious
diseases. Idera is collaborating with Novartis International
Pharmaceutical, Ltd. for the discovery, development, and
commercialization of TLR9 agonists for the treatment of asthma and
allergy indications. Idera is also collaborating with Merck &
Co., Inc. for the use of Idera�s TLR7, 8 and 9 agonists in
combination with Merck�s therapeutic and prophylactic vaccines in
the areas of oncology, infectious diseases, and Alzheimer�s
disease. For more information, visit www.iderapharma.com. Forward
Looking Statements This press release contains forward-looking
statements concerning Idera Pharmaceuticals, Inc. that involve a
number of risks and uncertainties. For this purpose, any statements
contained herein that are not statements of historical fact may be
deemed to be forward-looking statements. Without limiting the
foregoing, the words "believes," "anticipates," "plans," "expects,"
"estimates," "intends," "should," "could," "will," "may," and
similar expressions are intended to identify forward-looking
statements. There are a number of important factors that could
cause Idera�s actual results to differ materially from those
indicated by such forward-looking statements, including whether its
collaboration with Novartis will be successful and whether products
based on Idera�s technology will advance into or through the
clinical trial process on a timely basis or at all and receive
marketing approval from the United States Food and Drug
Administration or equivalent foreign regulatory agencies; whether,
if the Company�s products receive approval, they will be
successfully distributed and marketed; whether Idera�s cash
resources will be sufficient to fund product development and
clinical trials; and such other important factors as are set forth
under the caption "Risk Factors" in Idera�s Quarterly Report on
Form 10-Q filed on November 13, 2006, which important factors are
incorporated herein by reference. Idera disclaims any intention or
obligation to update any forward-looking statements.
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