Amira Pharmaceuticals and GlaxoSmithKline Enter Global Agreement for FLAP Inhibit...( Deal follows positive phase I data f...),Health

Deal follows positive phase I data from novel product candidate AM103 for

the oral treatment of respiratory disease

SAN DIEGO, Feb. 4 /PRNewswire/ -- Amira Pharmaceuticals and GlaxoSmithKline today announced they have entered into a worldwide exclusive agreement to develop, manufacture and commercialize FLAP (5-Lipoxygenase Activating Protein ) inhibitors for the treatment of respiratory and cardiovascular disease.

Under the terms of the agreement GSK will be granted an exclusive, worldwide license to develop, manufacture and commercialize Amira's FLAP inhibitors, including AM103 and other compounds within the current development program. In the event that all potential development and regulatory milestones are successfully achieved, Amira could receive up to US $425 million in upfront and milestone payments. In addition, Amira will be entitled to receive tiered royalty payments based on worldwide net sales and commercial sales milestones.

Initial development activities will focus on candidate compound AM103, for the treatment of asthma. Positive data, from a phase I study completed in November 2007, show AM103 has the potential as a once-daily, oral, non-steroidal asthma treatment. In this study the compound was also well-tolerated.

Peppi Prasit, Chief Scientific Officer and Co-Founder Amira said: "To have identified such a positive drug candidate and progressed to the completion of phase I clinical trials just two years after the company was founded is a tremendous achievement for the team at Amira. We are delighted that GlaxoSmithKline will be taking this asset into full development. With their experience and expertise in this area we hope that AM103 will become the first FLAP inhibitor available to patients worldwide to treat symptoms of asthma and possibly other inflammatory diseases."

"This is a momentous day in the young life of Amira," said Bob Baltera, Chief Executive Officer, Amira. "This deal valid
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