Press release from Business Wire India
Source: Biocon Limited
Friday, September 11, 2009 01:13 PM IST (07:43 AM GMT)
Editors: General: Consumer interest; Business: Business services, Healthcare, biotechnology & pharmaceutical; Healthcare
Biocon Limited and Amylin Pharmaceuticals Enter a Global Development and Commercialization Agreement for a Novel Peptide Hybrid
Program will Focus on the Potential Treatment of Diabetes
Bangalore, Karnataka, India and San Diego, California, United States, Friday, September 11, 2009 -- (Business Wire India) -- Biocon, Limited (NSE: BIOCON) and Amylin Pharmaceuticals, Inc. (Nasdaq: AMLN) announced today that they have entered into an exclusive agreement to jointly develop, commercialize and manufacture a novel peptide therapeutic for the potential treatment of diabetes. Amylin and Biocon will collaborate to develop the therapeutic potential of the compound and share development costs. Research will center on Amylin's "phybrid" technology. A phybrid is a peptide hybrid molecule that combines the pharmacological effects of two peptide hormones into a single molecular entity.
Under the terms of the Development and Commercialization Agreement, Amylin will provide expertise in peptide hormone development, particularly in the area of phybrid technology, as well as metabolic disease therapeutics. Biocon will utilize its expertise in recombinant microbial expression to manufacture the compound and also leverage its experience in pre-clinical and clinical development of diabetes products.
"This agreement fully leverages the synergistic capabilities of the two companies," said Kiran Mazumdar-Shaw, Chairman and Managing Director, Biocon, Ltd. "Amylin's knowledge of peptide therapeutics and their leadership in the diabetes market, paired with Biocon's capabilities in process development, manufacturing and clinical development, provides this global program with the potential to effectively bring a novel therapy to patients living with diabetes."
"This program could unleash the potential of cutting-edge peptide science to transform the lives of patients with diabetes," said Daniel M. Bradbury, President and Chief Executive Officer, Amylin Pharmaceuticals. "We are pleased to work with Biocon, a biologics innovator and world-class manufacturing expert, and look forward to collaborating with them on this exciting program."
About Amylin Pharmaceuticals
Amylin Pharmaceuticals is a biopharmaceutical company committed to improving lives through the discovery, development and commercialization of innovative medicines. Amylin has developed and gained approval for two first-in-class medicines for diabetes, SYMLIN® (pramlintide acetate) injection and BYETTA® (exenatide) injection. Amylin's research and development activities leverage the Company's expertise in metabolism to develop potential therapies to treat diabetes and obesity. Amylin is headquartered in San Diego, California. Further information about Amylin Pharmaceuticals is available at www.amylin.com.
About Biocon Limited
Established in 1978, Biocon Limited is one of India's premier biotechnology companies. Together with its group companies, Biocon forms a fully integrated biotechnology enterprise, specializing in biopharmaceuticals, custom research and clinical research which deliver products and solutions to partners and customers across the globe. Focusing on unmet medical needs in cancer, diabetes and inflammatory diseases, Biocon offers therapies on a platform of affordable innovation. Biocon has a strong focus in diabetes having launched the world's first recombinant human insulin, INSUGEN®, using a pichia based expression system in 2004 and recombinant glargine, BASALOG®, in 2009. In the oncology segment, Biocon launched India's first indigenously produced novel monoclonal antibody BIOMAB EGFR®. Biocon received the 2009 BioSingapore Asia Pacific Biotechnology Award for Best Listed Company in the region. For more information, visit www.biocon.com.
Amylin Forward-Looking Statements
This press release contains forward-looking statements about Amylin, which involve risks and uncertainties. The Company's actual results could differ materially from those discussed due to a number of risks and uncertainties, including that the phybrid program mentioned in this press release will not produce the results we expect, our clinical trials may not start when planned and/or confirm previous results; our preclinical studies may not be predictive; our product candidates may not receive regulatory approval; and inherent scientific, regulatory and other risks in the drug development and commercialization process. These and additional risks and uncertainties are described more fully in the Company's most recently filed SEC documents, including its Form 10-Q. Amylin undertakes no duty to update these forward-looking statements.
Biocon Forward-Looking Statements
Certain statements in this release concerning Biocon's future growth prospects are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those contemplated in such forward-looking statements. Important factors that could cause actual results to differ materially from our expectations include, amongst others general economic and business conditions in India, our ability to successfully implement our strategy, our research and development efforts, our growth and expansion plans and technological changes, changes in the value of the Rupee and other currency changes, changes in the Indian and international interest rates, change in laws and regulations that apply to the Indian and global biotechnology and pharmaceuticals industries, increasing competition in and the conditions of the Indian biotechnology and pharmaceuticals industries, changes in political conditions in India and changes in the foreign exchange control regulations in India. Neither our company, our directors, nor any of our affiliates have any obligation to update or otherwise revise any statements reflecting circumstances arising after this date or to reflect the occurrence of underlying events, even if the underlying assumptions do not come to fruition.
Anne Erickson, Amylin, (858) 754-4443, (858) 349-3195, firstname.lastname@example.org
Paula Sengupta, Biocon, +91 (80) 28082225, +91 9845542838, email@example.com
CONSUMER, BUSINESS SERVICES, HEALTHCARE, HEALTHCARE, BIOCON.NS
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