PARIS, August 28 /PRNewswire-FirstCall/ -- ExonHit Therapeutics, a drug and diagnostic discovery company, today announced that its drug discovery collaboration with Allergan Inc. (NYSE: AGN), a global speciality pharmaceutical and medical device company, has reached a success milestone. As a result of the efforts of the Allergan and ExonHit research team, human clinical testing will be initiated on the first collaboration New Chemical Entity (NCE). This NCE (designated EHT/AGN001) has a novel mechanism of action and will enter a phase I study later this year.
The objectives of Allergan and ExonHit's strategic collaboration are to identify, develop and commercialise drugs targeted at the treatment of neurodegenerative diseases, pain and ophthalmology. The collaboration was initiated in 2003 and has been extended twice as a consequence of its good productivity.
"We are happy to see that this collaboration has lead to a clinical candidate in such a short period of time. This success is a result of the dedicated efforts and focus by the research teams from both companies," said Dr. Scott Whitcup, Executive Vice President, Research & Development of Allergan Inc.
"By industry standards, this collaboration's productivity is exceptional, delivering a clinical product in less than four years together with two other innovative pre-clinical projects," stated Bruno Tocque President of the Management Board of ExonHit. He added "I would like to express my gratitude to our scientists who have developed a drug discovery engine enabling this achievement".
Under the terms of the agreement, Allergan will assume responsibility
for the ongoing clinical development and commercialisation of EHT/AGN001.
|SOURCE ExonHit Therapeutics SA|
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