Healthcare Industry News: Bristol-Myers Squibb
News Release - September 6, 2007
Aradigm and CyDex Sign Development Collaboration AgreementHAYWARD, Calif. & LENEXA, Kan.--(HSMN NewsFeed)--Aradigm Corporation (OTCBB:ARDM ; "Aradigm") and CyDex, Inc. ("CyDex") today announced they have entered into a two-year Collaboration Agreement (the "Agreement") for the development and commercialization of combination products containing inhaled corticosteroids, anticholinergics and beta-2 agonists for the treatment of asthma and chronic obstructive pulmonary diseases (COPD).
Under the terms of the Agreement, the costs of the collaboration projects will be borne 60% by Aradigm and 40% by CyDex, with third-party licensing and sales revenues to be shared in the same ratio.
"There is a lot of interest in inhalation products containing a combination of drugs as these have proven to be very popular with millions of asthma and COPD patients," said Igor Gonda, Ph.D., Aradigm's President and CEO. "We are pleased to be working with CyDex - a company with an excellent track record of developing and partnering innovative pharmaceutical products."
John Siebert, CEO of CyDex and a member of Aradigm's Board of Directors, said: "Putting together Cydex's aqueous formulation capabilities with Aradigm's palm-size AERx Essence® inhalation delivery system has the potential to generate a family of attractive novel therapies for asthma and COPD patients. We believe that the products containing CyDex's formulations delivered by the AERx Essence technology could become a new treatment of choice for many of these patients."
Aradigm is an emerging specialty pharmaceutical company focused on the development and commercialization of a portfolio of drugs delivered by inhalation for the treatment of severe respiratory diseases by pulmonologists. Current activities include partnered and self-initiated development programs addressing the treatment of cystic fibrosis, bronchiectasis, pulmonary hypertension, inhalation anthrax infections and smoking cessation.
In addition, Aradigm's AERx® insulin Diabetes Management System (iDMS), which has been licensed to Novo Nordisk for development and commercialization in return for royalties, is in Phase 3 testing for Type 1 and Type 2 diabetes. Under the agreements with Novo Nordisk, Novo Nordisk is responsible for all further clinical, manufacturing and commercial development, while Aradigm and Novo Nordisk continue to cooperate and share in technology development, as well as intellectual property development and defense. More information about Aradigm can be found at www.aradigm.com.
About CyDex, Inc.
CyDex is a specialty pharmaceutical company developing proprietary products and licensing its Captisol®-enabling technology. CyDex is bringing important new medications to patients by developing its own pipeline of proprietary products with advanced drug delivery solutions, and by partnering with the world's leading pharmaceutical and biotechnology companies. Four Captisol-enabled drugs are currently being commercially marketed. These include Bristol-Myers Squibb's Abilify(a) IM, Pfizer Animal Health's Cerenia(a) and Geodon(a) for Injection and Vfend(a) IV, marketed globally by Pfizer Inc. In addition, CyDex has development agreements with Allergan, Inc.; Bristol-Myers Squibb; Critical Therapeutics, Inc.; Daiichi Asubio Pharma Co., Ltd., of Japan Inc.; Kanisa Pharmaceuticals; Merck & Co.; Mitsubishi Corporation; OSI Pharmaceuticals, Inc.; Proteolix, Inc.; Sunesis Pharmaceuticals, Inc.; Taisho Pharmaceuticals; TargeGen, Inc.; and Teva Pharmaceutical Industries Ltd. CyDex also has clinical use agreements with major pharma and biotech companies. CyDex is a privately held company located in suburban Kansas City. To learn more about the company, please visit www.cydexinc.com.
Except for the historical information contained herein, this news release contains forward-looking statements that involve risk and uncertainties, including statements relating to future development and commercialization activities, receipt of revenues and patient acceptance of therapies, as well as the other risks detailed from time to time in Aradigm Corporation's Securities and Exchange Commission (SEC) Filings, including Aradigm's Annual Report on Form 10-K, and quarterly reports on Form 10-Q.
Aradigm, AERx, and AERx Essence are registered trademarks and the Aradigm Logo is a trademark of Aradigm Corporation. The CyDex Logo and Captisol are registered trademarks of CyDex, Inc. (a) Other trademarks may be claimed as the property of other parties.
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