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:2/13/2016)... ... ... With FCPX Overlay Embers from Pixel Film Studios users can now apply ... user can select from up to 40 effect overlays. With FCPX Overlay Embers users ... value, contrast, glow, and more all within a click of a mouse. , ...
(Date:2/13/2016)... , ... February 13, 2016 , ... ... of Nursing with an in-kind gift of a VeinViewer® Vision vein finder ... they learn how to start an IV and draw blood, combining technology with ...
(Date:2/13/2016)... (PRWEB) , ... February 13, 2016 , ... ... Tech Outlook’s top Clinical Data Management Solution Providers list for its expertise in ... functional and domain expertise to serve the technology needs of global clients. DDi ...
(Date:2/12/2016)... ... February 12, 2016 , ... The law firm of Morrow, Morrow, Ryan ... The purpose of these scholarships is to encourage applicants to pursue a degree in ... within these two parishes. , “We have available jobs in St. Landry and ...
(Date:2/12/2016)... Falls Church, VA (PRWEB) , ... February 12, 2016 , ... CDRH Enforcement Trends: , ... http://www.fdanews.com/cdrhenforcementtrends , As Winston Churchill said, “Those who don’t learn ... 2015 will show what to expect when they come knocking this year. But that takes ...
Breaking Medicine News(10 mins):
(Date:2/12/2016)... /PRNewswire/ - Demers Ambulances announces its first delivery in the state ... County Emergency Medical Services (EMS) consisting of four ... van. Quality Emergency Vehicles in Lecanto, FL ... This is the latest in Demers, ongoing expansion of sales.  ... Demers. --> Benoit LaFortune , Executive Vice President ...
(Date:2/12/2016)... Feb. 12, 2016   HeartWare International, Inc . ... and webcast to discuss its financial results for the ... Thursday, February 25, 2016 at 8:00 a.m. ET.  The ... the conference call and webcast.  On the conference call ... highlights from the fourth quarter and business outlook.   ...
(Date:2/12/2016)... Kalifornien, 12. Februar 2016  Sequent Medical, Inc. ... von Patienten für eine Studie zur Sicherheit und ... speziell für die Behandlung von rupturierten intrakraniellen Aneurysmen ... Leiter der Neuroradiologie an der Universitätsklinik Bicètre in ... der CLARYS-Studie hat den ersten Patienten aufgenommen. ...
Breaking Medicine Technology: