Navigation Links
Selection of Development Candidate Triggers $0.5 Million Milestone Payment to Ardea Biosciences, Inc.
Date:8/19/2007

- Ardea Biosciences Receives Milestone Payment from Valeant Pharmaceuticals

-

CARLSBAD, Calif., Aug. 16 /PRNewswire-FirstCall/ -- Ardea Biosciences, Inc. (Pink Sheets: ARDC) today announced that it has received the first milestone payment of $0.5 million from its collaboration partner, Valeant Pharmaceuticals International (NYSE: VRX).

In December 2006, Ardea Biosciences entered into a research collaboration with Valeant Pharmaceuticals International pursuant to which we agreed to collaborate exclusively with Valeant to design a series of compounds to treat neurological disorders.

Valeant's announcement of the selection of several pre-Investigational New Drug (IND) candidates for its next-generation potassium-channel opener program triggered this milestone payment, which recognizes the continuing progress in the identification of novel next-generation compounds to treat serious diseases.

"Starting with a very interesting first generation compound, we have successfully improved its metabolic and pharmacokinetic properties, while increasing potency by up to 50-fold. We are pleased to be recognized for achieving this important milestone and for its validation of our fully-integrated discovery, research and development platform," said Barry D. Quart, PharmD, President and CEO.

About Ardea Biosciences, Inc.

Ardea is focused on the development of small-molecule drugs that address large pharmaceutical markets. We plan to source these development candidates from both our internal drug discovery programs and our continued in-licensing efforts. Our initial therapeutic areas of focus are viral diseases, cancer and inflammatory diseases. We believe that we are well-positioned to create shareholder value through our development activities given our ability to achieve clinical proof-of-concept relatively quickly and cost-effectively in these disease areas. The Company's goal is to initiate clinical studies on three or more compounds this year. These compounds include RDEA806 and lead compounds from our 900 series, which are non-nucleoside reverse transcriptase inhibitors (NNRTIs) for the treatment of HIV, and RDEA119, a mitogen-activated ERK kinase (MEK) inhibitor for the treatment of cancer and inflammatory diseases.

Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding: Ardea's goals, its plan to source development candidates, and its goal of initiating clinical studies on three or more compounds this year. Risks that contribute to the uncertain nature of the forward-looking statements include: risks related to the outcomes of preclinical and clinical trials, risks related to regulatory approvals, delays in commencement of preclinical and clinical tests, and costs associated with internal development and in-licensing activities. These and other risks and uncertainties are described more fully in Ardea's most recently filed SEC documents, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, under the headings "Risk Factors." All forward-looking statements contained in this press release speak only as of the date on which they were made. Ardea undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.


'/>"/>
SOURCE Ardea Biosciences, Inc.

Copyright©2007 PR Newswire.

Related biology technology :

1. A Positive Selection Assay for Mutation Analysis in Big Blue Animals
2. Plasmid Miniprep Kit Selection
3. Selection of Standards for Bio-Plex Cytokine Assays, Rev A
4. Tired of the spin? ExpertVoter website makes candidate selection easier
5. The let-7 microRNA Family Regulates RAS: Implications for Development and Oncogenesis
6. Rapid Method Development With the BioLogic DuoFlow Chromatography System for the Purification of His-Tagged Proteins
7. A Multiple Mutation Model System as a Test Development and Training Tool for Denaturing Gradient Gel Electrophoresis
8. Development of a Multiplex Bead-Based Assay for Antibody Screening of a Nonhuman Primate Colony on the Bio-Plex System
9. The development of a CXCR2 chemokine receptorbinding assay using the LEADseeker Multimodality Imaging System
10. The development of a melanocortin MC4 receptor binding assay using the LEADseeker Multimodality Imaging System
11. The development of a melanocortin MC5 receptor binding assay using the LEADseeker Multimodality Imaging System
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... 2016 Andrew D ... http://doi.org/10.17925/OHR.2016.12.01.22 Published recently in ... from touchONCOLOGY, Andrew D Zelenetz , discusses ... care is placing an increasing burden on healthcare ... therapies. With the patents on many biologics expiring, ...
(Date:6/23/2016)... (PRWEB) , ... June 23, 2016 , ... ... a new line of intelligent tools designed, tuned and optimized exclusively for Okuma ... 12–17 in Chicago. The result of a collaboration among several companies with expertise ...
(Date:6/22/2016)... June 22, 2016 Research and Markets has ... report to their offering. ... 2014 from $29.3 billion in 2013. The market is expected to ... from 2015 to 2020, increasing from $50.6 billion in 2015 to ... forecasts during the forecast period (2015 to 2020) are discussed. As ...
(Date:6/22/2016)... 2016   ViaCyte, Inc. , a privately-held regenerative ... replacement therapy for the treatment of diabetes in clinical-stage ... Meeting.  ISSCR 2016, the Global Stem Cell Event, is ... in San Francisco.    ... follows:Event: , Focus Session: Tools for Basic and Applied ...
Breaking Biology Technology:
(Date:4/28/2016)... , April 28, 2016 First quarter 2016: ... up 966% compared with the first quarter of 2015 ... SEK 589.1 M (loss: 18.8) and the operating margin was 40% ... 0.32) Cash flow from operations was SEK 249.9 M ... revenue guidance is unchanged, SEK 7,000-8,500 M. The operating ...
(Date:4/15/2016)... CHICAGO , April 15, 2016  A ... companies make more accurate underwriting decisions in a ... offering timely, competitively priced and high-value life insurance ... health screenings. With Force Diagnostics, rapid ... and lifestyle data readings (blood pressure, weight, pulse, ...
(Date:3/31/2016)...   LegacyXChange, Inc. ... LegacyXChange is excited to release its first ... be launched online site for trading 100% guaranteed authentic ... also provide potential shareholders a sense of the value ... industry that is notorious for fraud. The video is ...
Breaking Biology News(10 mins):