Development of Drug for Treatment of Autoimmune Diseases
Monday, July 31, 2006
 
Predix Pharmaceuticals, which recently announced a definitive agreement to merge with EPIX Pharmaceuticals (NASDAQ: EPIX), announced today that it has entered into an exclusive collaboration and licensing agreement with Amgen for the development of novel, orally available S1P1 modulators for the treatment of multiple autoimmune diseases.

Under the terms of the agreement, Predix and Amgen will collaborate on the development of existing Predix preclinical compounds and new S1P1 modulators. Amgen will be responsible for clinical development and commercialization of the product candidate(s). Predix will receive an upfront payment of $20 million. Additionally, if certain clinical, regulatory and sales milestones are achieved, Predix can earn up to an additional $287.5 million in milestone payments. Under the agreement, Predix will have the opportunity to receive potential double-digit royalties on future sales of products resulting from this collaboration and will have the option to promote a product resulting from this collaboration to specialty physicians in the U.S. for a selected indication.

"Amgen is recognized as an industry leader in the research, development and commercialization of therapies for autoimmune and inflammatory diseases," stated Chen Schor, chief business officer of Predix. "We are very pleased to enter into this collaboration and look forward to working with Amgen. This collaboration provides Predix with the option to transform into a fully integrated pharmaceutical company by exercising our co-promote option with Amgen. This deal comes as we are in the process of finalizing our merger with EPIX and will further enable the combined company to pursue this research program along with our other development programs."

Sharon Shacham, Ph.D., vice president of preclinical development at Predix added, "The goal of this collaboration is to leverage both Amgen’s and Predix’s expertise in autoimmune research. We believe that combining Predix’s S1P1 program with Amgen’s assets and capabilities will lead to new therapies that will more effectively treat a variety of autoimmune disorders."

 
 

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