BALLERUP, Denmark and PLANEGG-MARTINSRIED, Germany, Feb. 26, 2013 /CNW/
- LEO Pharma A/S, a global pharmaceutical company specialising in
dermatology, has entered into an exclusive research and license
agreement with the German biotech company 4SC Discovery GmbH with the
primary aim of jointly researching, developing and commercialising an
oral treatment for inflammatory skin diseases such as psoriasis.
(Logo: http://www.newscom.com/cgi-bin/prnh/20110606/460992 )
The collaboration has the potential to result in a novel and convenient
breakthrough therapy for chronic skin conditions. The innovative
compound, currently in the early development state, has already been
proven in preclinical models to significantly reduce if not entirely
eradicate symptoms of psoriasis.
Under the agreement, LEO Pharma will issue an upfront payment of EUR 1
million to 4SC Discovery and additional funding for research and
development. LEO Pharma will receive an exclusive option to license the
worldwide marketing and commercialisation rights of the compound for
use in inflammatory skin diseases, including psoriasis and other
therapeutic areas. Upon LEO Pharma exercising the option, 4SC Discovery
will be eligible for a milestone payment of up to EUR 3 million and
further payments upon achieving specific development milestones of up
to EUR 92 million as well as up to double-digit royalties.
Improving quality of life
The deal marks the latest milestone in LEO Pharma's ambitious growth
strategy, which involves actively seeking new opportunities to expand
the company pipeline for the benefit of patients.
Kim Kjoeller, Senior Vice President, Global Development, LEO Pharma,
said: "LEO Pharma is excited about the agreement with 4SC and the
possibilities it offers patients. The compound has the potential to
completely eradicate symptoms of psoriasis, liberating people from the
burden of this chronic skin disease. LEO Pharma strives to constantly
expand and improve treatment options for patients and this latest deal
is the perfect example of our commitment to meeting patient needs with
breakthrough novel therapies."
New breakthrough therapy
For 4SC Discovery, the deal marks a key early-stage partnering deal with
one of the company's compounds from its research engine.
Dr. Daniel Vitt, Managing Director of 4SC Discovery GmbH and Chief
Scientific Officer at 4SC AG, commented: "We are delighted to have won
LEO Pharma, a global leader in skin diseases, as an ideal research and
license partner for our highly innovative compound, which is based on
the modulation of cytokines. Our goal is now to speed up and jointly
develop a novel breakthrough therapy addressing the high medical need
in chronic inflammatory skin diseases such as psoriasis. This
partnership again demonstrates the great expertise and scientific
potential of 4SC in the fields of autoimmune and inflammatory
About LEO Pharma A/S
Founded in 1908, LEO Pharma is an independent, research-based
pharmaceutical company. LEO Pharma develops, manufactures and markets
pharmaceutical drugs to dermatologic and thrombotic patients in more
than 100 countries globally. The company has its own sales forces in 61
countries and employs around 5,000 people worldwide. LEO Pharma is
headquartered in Denmark and is wholly owned by the LEO Foundation.
About 4SC Discovery GmbH and 4SC Group
4SC Discovery GmbH, a wholly-owned subsidiary of 4SC AG, specialises in
the early-stage research and discovery of novel therapeutic compounds
against cancer and autoimmune diseases. 4SC Discovery offers its
technologies and research services to other companies and engages in
partnerships with pharmaceutical and biotech companies to accelerate
the development and commercialisation of its own early-stage
therapeutic programmes. 4SC Group focuses on the discovery and clinical
development of targeted small-molecule drugs for the treatment of
cancer and autoimmune diseases in order to enhance patients' quality of
life. At the end of 2012, 4SC Group had 86 employees. The company was
founded in 1997 and has been listed on the Prime Standard of the
Frankfurt Stock Exchange since December 2005.
This document may contain projections or estimates relating to plans and
objectives relating to our future operations, products, or services;
future financial results; or assumptions underlying or relating to any
such statements; each of which constitutes a forward-looking statement
subject to risks and uncertainties, many of which are beyond our
control. Actual results could differ materially, depending on a number
SOURCE: LEO Pharma A/S
For further information:
Contact: LEO Pharma A/S, Adam Estrup, Head of Corporate Communications, firstname.lastname@example.org, Tel.: +45-2222-6994, http://www.leo-pharma.com. 4SC AG, Jochen Orlowski, Corporate Communications & Investor Relations, email@example.com, Tel.: +49-89-7007-63-66, http://www.4sc.com http://www.4sc-discovery.de.