Navigation Links
Fovea Pharmaceuticals to be Acquired by sanofi-aventis

PARIS, Oct. 1 /PRNewswire/ -- Fovea Pharmaceuticals announced today that it has entered into a binding agreement with sanofi-aventis to sell 100% of its share to sanofi-aventis. Fovea has a portfolio of three clinical compounds, a unique technology platform and several discovery programs dedicated to back of the eye diseases. The deal is valued to a total of euro 370M, including an immediate upfront payment and subsequent milestone payments related to the progress of the clinical compounds. The closing of the transaction is expected to occur in the 4th quarter of 2009.

Fovea was created in 2005 by Professeur Jose A. Sahel, Bernard Gilly and Pierre Belichard, with the initial seeding of Sofinnova Partners in Paris. It successfully raised two rounds of funding in November 2005 and February 2008, from a syndicate of pan-european investors including Sofinnova Partners, Abingworth Management, Forbion Capital Partners, The Wellcome Trust, GIMV, Credit Agricole Private Equity and Vesalius BioCapital.

Fovea has rapidly built a pipeline of products: FOV 1101, an eye drop, fixed dose combination of prednisolone and cyclosporine, currently in phase II for the treatment of persistent allergic conjunctivitis, FOV 2302, an intravitreal formulation of a plasma kallikrein inhibitor, in phase I for the treatment of Retinal Vein Occlusion induced macular edema and FOV 2304, a potent antagonist of bradykinin B1 receptor, active by eye drop, scheduled to enter in phase I by November 2009 for the treatment of diabetic macular oedema.

"Our team is proud and extremely pleased to join sanofi-aventis, as it will provide the necessary resources and expertise needed to continue to aggressively build the ophthalmology franchise and demonstrate the efficacy of our products through regulatory clinical development," commented Bernard Gilly, President and Chief Executive Officer of Fovea Pharmaceuticals. "It also demonstrates that strong science combined with high level expertise in pharmaceutical development and management is what the industry leaders are looking for."

Fovea was built upon close relationship with the Vision Institute, created and chaired by Professeur Jose A. Sahel, at the National Eye Hospital in Paris. The Vision Institute mixes on the same campus research teams from UPMC, INSERM, CNRS, a clinical investigation centre dedicated to retinal diseases, high level clinicians and start-up companies like Fovea, putting the patients at the centre of the development of new therapeutic approaches.

About Fovea Pharmaceuticals

Fovea Pharmaceuticals SA (Fovea) is a privately-held biopharmaceutical company specialized in development and commercialization of drugs for the treatment of ocular diseases, with a special focus on retinal pathologies. It has raised two rounds of financing. For more information, please visit .

    Fovea Pharmaceuticals SA:
    Bernard Davitian
    Chief Financial Officer
    +33 1 44 16 42 61

    Fovea Press Contact U.S.:
    Martina Schwarzkopf, Ph.D.
    Russo Partners, LLC
    +1 212-845-4292

SOURCE Fovea Pharmaceuticals SA

SOURCE Fovea Pharmaceuticals SA
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. Fovea Reports Positive Results with Prednisporin(TM) in Persistent Allergic Conjunctivitis
2. Fovea Pharmaceuticals Receives Orphan Drug Designation from EC for RdCVF for the Treatment of Retinitis Pigmentosa
3. Sagent Pharmaceuticals Launches Vinorelbine Injection, USP
4. Cadence Pharmaceuticals to Webcast October 7th Analyst Day
5. Raptor Pharmaceuticals Corp. and TorreyPines Complete Merger
6. Arena Pharmaceuticals Reports Positive, Highly Significant BLOSSOM Trial Results for Weight Management; NDA Submission on Track for December
7. Arena Pharmaceuticals to Host Conference Call and Webcast on Friday, September 18, 2009, to Discuss Results from the BLOSSOM Phase 3 Trial of Lorcaserin for Weight Management
8. Strativa Pharmaceuticals Development Partner, BioAlliance Pharma, Presents Phase III Study Results of Miconazole Lauriad(R) for the Treatment of Oropharyngeal Candidiasis
9. Keryx Biopharmaceuticals Phase 2 Data of KRX-0401 (Perifosine) in the Treatment of Advanced Metastatic Renal Cell Cancer Selected for Oral Presentation at the Eighth International Kidney Cancer Symposium
10. In Vitro Study of Adamas Pharmaceuticals Triple Combination Antiviral Drug Therapy Shows Activity Against Drug-Resistant Influenza Viruses
11. MAP Pharmaceuticals Analysis of Positive Phase 3 LEVADEX(TM) Data To Be Presented in Late-Breaking Session at 14th Congress of the International Headache Society
Post Your Comments:
(Date:10/13/2015)... 2015  Kay Elledge, M.D., an established South ... of Obstetrics and Gynecology (FACOG) for the past ... Genuine Self Medical Laser Center where she provides ... of Breast Cancer Awareness Month , the ... MonaLisa Touch treatments initiated in the month ...
(Date:10/13/2015)... 13, 2015  Human Longevity, Inc. (HLI), the genomics-based, ... announced today the launch of the company,s first Health ... the potential to transform healthcare. The inaugural Health Nucleus ... , at HLI,s headquarters facility. More Health Nucleus facilities ... and International cities. --> ...
(Date:10/13/2015)... SAN DIEGO , Oct. 13, 2015 /PRNewswire/ ... bioelectronics for use in research and diagnostics, announces ... of $1.6 million led by Serra Ventures. ... Nanomed,s mission is providing low-cost, easy-to-use monitoring and ... personal health decisions. The funding round will enable ...
Breaking Medicine Technology:
(Date:10/13/2015)... ... ... "My friend's son suffers from eczema, and he had a horrible habit ... Platteville, Colo. "I came up with this kit as a way to prevent children ... child from rubbing or scratching his or her face. This protects sensitive skin from ...
(Date:10/13/2015)... ... , ... ProText Kinetic Panel is a typography creation tool made for use ... energetic text animations in any layout without the use of keyframes. Using ProText Kinetic ... stylize the text. With intuitive on-screen controls, users can re-position and scale the text. ...
(Date:10/13/2015)... ... October 13, 2015 , ... Relay (, ... application, announced today a significant contract that will provide its award-winning private messaging ... build on the growing success of its Relay program, IBX Wire™, which now ...
(Date:10/13/2015)... ... October 13, 2015 , ... Leading ... Singal's newly launched "Publish Academy" training course . Singal's new program, in ... enrollment today, and marketers around the Internet are weighing in with reviews. , ...
(Date:10/13/2015)... ... October 13, 2015 , ... T-System ... with more than 59,000 emergency department visits per year, today announced the successful ... to help improve clinical, operational and financial outcomes. , In less ...
Breaking Medicine News(10 mins):