Navigation Links
NPS Sells Assets Related to mGluR Collaboration to AstraZeneca for $30 Million to Support Late-Stage Product Development
Date:10/9/2007

BEDMINSTER, N.J., Oct. 9 /PRNewswire-FirstCall/ -- NPS Pharmaceuticals, Inc. (Nasdaq: NPSP) announced today that by mutual agreement it has ended its collaboration with AstraZeneca to discover and develop drugs targeting metabotropic glutamate receptors (mGluRs). AstraZeneca has agreed to pay NPS $30 million to acquire NPS's assets related to the companies' research collaboration to discover and develop the compounds. NPS intends to use the proceeds to support further development of its late-stage product pipeline.

The two companies have been collaborating since March 2001 to discover and develop compounds that are active at these receptors and have identified several drug candidates currently in preclinical and Phase 1 studies. Under the terms of the agreement, NPS will no longer provide research support for or maintain interests in any drugs discovered, developed and commercialized under this program.

Dr. Tony Coles, president and CEO of NPS, stated, "Monetizing our interests in the mGluR program at this time enables us to create greater near-term value for NPS shareholders. This strategic move creates investment flexibility for NPS and enables us to use the monies from this deal, the previously announced Nycomed GATTEX deal and the approximately $10 million in savings over the next two years from this transaction to support the further development of our late-stage pipeline products, PREOS and GATTEX, in specialty indications. We have had a very productive collaboration with AstraZeneca and wish them continued success with this program."

About NPS Pharmaceuticals

NPS discovers and develops small molecules and recombinant proteins as drugs, primarily for the treatment of metabolic, bone and mineral, and central nervous system disorders. The company has drug candidates in various stages of clinical development backed by a strong discovery research effort. Additional information is available on the company's website, http://www.npsp.com.

Note: Statements made in this press release, which are not historical in nature, constitute forward-looking statements for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. All information in this press release is as of October 9, 2007 and we undertake no duty to update this information. A more complete description of these risks can be found in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year-ended December 31, 2006 and our Quarterly Report on Form 10-Q for the quarter-ended June 30, 2007.


'/>"/>
SOURCE NPS Pharmaceuticals, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Heart disease in the newborn is related to maternal malnutrition
2. Individuals with sleep related breathing disorders more prone to heart disease
3. Pharmaceutical giant offers AIDS related antifungal drug free to 50 countries
4. Pharmaceutical giant offers AIDS related antifungal drug free to 50 countries
5. Dampness related to asthma
6. Allergies are related to mothers menses
7. Genetic disorder related with sleep patterns
8. Energy intake directly related to portion size
9. Treatment for cholesterol-related illnesses likely with the discovery of receptor in mice
10. Age-Related Macular Degeneration - Risk Factors
11. New Drug Shows Significant Improvement In HIV-related Heart Condition
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/28/2016)... ... , ... After a year and a half of planning the Multiple Pathways of Recovery ... Pathways of Recovery Conference was held May 2 -4, 2016 at the Mystic Marriott ... together to explore the many pathways individuals use to get into and sustain their recovery. ...
(Date:5/27/2016)... ... 2016 , ... Two director-level employees of Horizon Blue Cross Blue Shield of ... 2016 honorees. The award recognizes businesswomen who excel in their fields and who ... the MLTSS (Managed Long-Term Services and Supports) Program at Horizon NJ Health and Theresa ...
(Date:5/27/2016)... NY (PRWEB) , ... May 27, 2016 , ... This ... of a stroke, which we as a society can control and change. , As ... occurs nearly every 40 seconds within the United States. Plus, with an estimated 129,000 ...
(Date:5/27/2016)... ... May 27, 2016 , ... Aimed ... by inspiring human interest stories, courtesy of leaders in the nursing and health ... the industry, from leading advocates and associations—namely Jones & Bartlett Learning. , Jones ...
(Date:5/26/2016)... ... May 26, 2016 , ... Despite last week’s media reports hinting at ... company to wait until March 2017 for an interest rate increase, according to Rajeev ... of Business. , “The Federal Open Market Committee (FOMC) dot charts are of interest ...
Breaking Medicine News(10 mins):
(Date:5/25/2016)... CAMBRIDGE, England , May 25, 2016 /PRNewswire/ ... genomics company employing the precision of circulating tumour ... oncology, today announces the appointment of Professor ... will provide medical leadership across the clinical development ... that Inivata,s products help deliver significant improvements in ...
(Date:5/24/2016)... 24, 2016 Cirujanos holandeses han ... a los médicos a compartir sus mejores prácticas por ... mundial. Profesionales médicos de Europa, África, Asia ... a la aplicación, que combina la transmisión en vivo ... seguro. Educación   "Imagine un médico ...
(Date:5/24/2016)... May 24, 2016  Diana Russell suffers from a ... from the inside out.  This disease has put her ... her children and grandchildren to leave her home.  Because ... family cannot haul the wheelchair.  So if there is ... and Diana is left to wait for the bus. ...
Breaking Medicine Technology: