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Epistem Announces Research and Development Coll...
Epistem Announces Research and Development Coll....
About this update from Genedrive Plc
[{"type":"text","content":"\n \n\n\n\nMANCHESTER, England, March 2 /PRNewswire/ -- Epistem Plc (LSE:EHP) the UK \nbiotechnology and research\nservices company announced today that they have signed a research and\ndevelopment collaboration with Novartis to identify new drug targets and\ntherapeutics across a variety of disease areas.\n\n\n\n The collaboration combines Epistem's stem cell expertise and\ndrug discovery programme, with Novartis's insights into disease pathways &\nbioinformatics.\n\n\n\n Under the terms of the agreement, Novartis will pay Epistem an\nupfront cash payment of US$4.0 million and will provide research funding for \n2 years. Novartis has an option to exclusively license targets for\ndevelopment of biotherapeutic products in exchange for license fees, \nmilestone payments and royalties. For each product developed from targets \nlicensed under the agreement, Epistem is eligible to receive up to US$45.0 \nmillion in milestones. Furthermore, if leads are commercialised Epistem \nis eligible to receive tiered royalties on worldwide sales.\n\n\n\n Matthew Walls, Epistem CEO, commented: \"The collaboration will\nenable us to accelerate the development of our existing targets with a world\nclass pharmaceutical collaborator and to jointly explore disease\nopportunities in regenerative medicine.\"\n\n\n\n Dr Jeffrey Moore, Novel Therapies Division Managing Director\nsaid: \"The collaboration will leverage each group's strengths to make novel\ndiscoveries leading to advances in treating unmet medical needs across\nseveral disease areas.\"\n\n\n\nNotes to Editors:\n\nAbout Epistem\n\n Epistem is a biotechnology company commercialising its\nexpertise in epithelial stem cells in the areas of oncology, gastrointestinal\nand dermatological diseases. Epistem develops innovative therapeutics and\nbiomarkers and provides contract research services to drug development\ncompanies. The Group's expertise is focused on the regulation of adult stem\ncells located in epithelial tissue, which includes the gastrointestinal\ntract, skin, hair follicles, breast and prostate. Epistem does not conduct\nresearch in the areas of embryonic stem cells or stem cell transplantation.\n\n\n\n For further information on the Company, please visit\nhttp://www.epistem.co.uk or contact:\n\n\n\n \n Matthew Walls\n +44(0)161-606-7258\n CEO\n Epistem Holdings Plc.\n\n Neil M...