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<p><b>PLIVA and The Althexis Company Announce a Collaboration on the Structure-Based |
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Drug Design of Novel Broad Spectrum Antibiotics</b></p> |
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<p>Zagreb, 8th February 1999</p> |
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<p>PLIVA d.d., Zagreb, Croatia and The Althexis Company, Inc., Boston, MA., USA, |
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today announced that they have entered into a collaboration to develop and commercialise |
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novel broad spectrum antibiotics using structure-based drug design ("SBDD") |
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technologies. PLIVA support for the Althexis program may total $14.4 million |
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over three years in research funding and milestone payments. Additional future |
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revenues to Althexis and PLIVA may result from certain exclusive marketing rights |
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each retains under the collaboration agreement.</p> |
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<p>Under terms of the agreement, PLIVA receives worldwide rights to market any |
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drugs which result from two specified research projects defined in the agreement, |
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except for the countries of Japan, South Korea, and Taiwan, where Althexis reserves |
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those rights. The partners will each retain non-exclusive rights in China.</p> |
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<p>Althexis and PLIVA will apply their expertise in the areas of structural biology, |
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biophysics, biochemistry and chemistry, and in chemistry, microbiology and drug |
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development, respectively, to two antibacterial targets. The companies will |
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pool and share their data, including pre-clinical and clinical results, in support |
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of activities in their respective geographical territories.</p> |
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<p>"We are thrilled to have PLIVA as a partner in our structure-based antibiotics |
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design program", stated Manuel Navia, Ph.D., a co-founder and President of The |
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Althexis Company. "The last twenty years of antimicrobial research have seen |
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a decline in the introduction of new antibacterials and a disturbing increase |
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in the resistance to existing antibiotics. There is a pressing need to broaden |
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the arsenal of antibacterial agents beyond those currently in use. Our collaboration |
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agreement with PLIVA gives Althexis the financial and scientific support it |
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needs to move forward against its initial bacterial targets" concluded Dr. Navia.</p> |
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<p>"Our two organisations fit together very well", said Patrick Connelly, Ph.D., |
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a co-founder and Chief Scientific Officer of Althexis. "Our expertise in SBDD |
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nicely complements the vigorous program of drug discovery and development that |
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already thrives at PLIVA. The excitement generated during our initial scientific |
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discussions was palpable. Althexis has put together an impressive group of pharmaceutical |
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industry veterans, as well as University and industry based joint ventures, |
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to conduct its research projects. Now we can proceed expeditiously to begin |
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work on the PLIVA-sponsored projects that we are so optimistic about" concluded |
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Dr. Connelly.</p> |
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<p>"PLIVA has a long and distinguished history of truly innovative research, dating |
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back to the founding of the PLIVA Research Institute by Vladimir Prelog, 1975 |
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Nobel Laureate in Chemistry. PLIVA's achievements include the discovery, development, |
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and manufacture of azithromycin, the outstanding macrolide antibiotic marketed |
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by Pfizer and PLIVA. We are confident that this partnership can meet the very |
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ambitious development and commercialisation goals we have set and, ultimately, |
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contribute to PLIVA's pipeline of novel anti-infective agents", Zeljko Covic, |
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CEO of PLIVA stated.</p> |
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<p>"We are extremely pleased to collaborate with The Althexis Company. PLIVA believes |
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in the power of SBDD, and Althexis' expertise in this area provides us with |
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a terrific complement to the antibiotics discovery program at PLIVA. This is |
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a powerful collaboration and represents a unique opportunity for PLIVA to explore |
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a state-of-the-art approach to making drugs" stated Radan Spaventi, M.D., Director |
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of the Research Institute at PLIVA.</p> |
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<p>PLIVA is the biggest pharmaceutical company in the area of Central and Eastern |
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Europe and has been listed on the London Stock Exchange since 1996. In 1997, |
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PLIVA acquired a majority stake in one of the biggest Polish pharmaceutical |
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companies, today known as "PLIVA Krakow". PLIVA's current operations consist |
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of research, the development, manufacture, and sale of pharmaceutical, animal |
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health and veterinary, food, and cosmetics products. It is a company with a |
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strong focus on the research and development of new chemical entities. PLIVA's |
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biggest success to date has been the invention, development, and production |
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of azithromycin, which was licensed to Pfizer for worldwide marketing except |
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in countries where PLIVA has retained rights. Azithromycin (Zithromax, Sumamed) |
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posted sales of $1 billion (US) in 1998. Several joint ventures with international |
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pharmaceutical and biotechnology companies, as well as various scientific organisations, |
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together with a significant reshaping of its internal research activities support |
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PLIVA's commercial and strategic goals of becoming an internationally recognised |
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research-driven pharmaceuticals company.</p> |
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<p>The Althexis Company, based in Boston, was founded in 1998 by Drs. Manuel Navia |
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and Patrick Connelly, Paul J. Mass of Mass Ventures LLC (Atlanta, GA) and Michael |
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Dailey of Dailey & Partners (Southport, CT). The Althexis Company is dedicated |
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to discovering novel small molecule drugs to treat diseases in humans. Althexis |
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is committed to the practice of SBDD, a revolutionary approach to drug discovery |
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and development that allows a smaller, more modestly capitalised company to |
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compete effectively with even the largest players in the pharmaceutical industry. |
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The scientific founders of Althexis have been pioneers in the establishment |
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and evolution of SBDD as a scientific and commercial success.</p> |