Healthcare Industry News: telavancin
News Release - May 30, 2007
Theravance Announces Acceptance of Telavancin MAA for the Treatment of Complicated Skin and Soft Tissue Infections in EuropeSOUTH SAN FRANCISCO, CA--(Healthcare Sales & Marketing Network)--May 30, 2007 -- Theravance, Inc. (NasdaqGM:THRX ) announced today that the European Medicines Agency (EMEA) has validated the Marketing Authorization Application (MAA) for telavancin, a rapidly bactericidal injectable antibiotic with a unique multifunctional mechanism of action, for the treatment of complicated skin and soft tissue infections (cSSTI) in adults. Astellas Pharma Europe B.V., a European subsidiary of Astellas Pharma Inc. (Astellas), submitted the MAA in April 2007 under the centralized procedure and applied for marketing approval for telavancin in the 27 European Union (EU) Member States, plus Iceland, Liechtenstein and Norway. Completion of the validation period for the MAA signifies that the submission is complete and EMEA's review process has begun.
"We have taken an important step forward in the development process of this therapeutic candidate," stated Masafumi Nogimori, President and Chief Executive Officer at Astellas Pharma Inc. "The close relationship between Theravance and Astellas has reflected our successful development partnership and mutual commitment to success."
"The start of the formal centralized approval procedure in the EU is another significant step in the global development of telavancin, which has the opportunity to become an important new medicine for the treatment of resistant Gram-positive infections," said Rick E Winningham, Chief Executive Officer at Theravance. "We commend our partner, Astellas, for their continued progress in key global markets."
Theravance is a biopharmaceutical company with a pipeline of internally discovered product candidates. Theravance is focused on the discovery, development and commercialization of small molecule medicines across a number of therapeutic areas including respiratory disease, bacterial infections and gastrointestinal motility dysfunction. Of the five programs in development, two are in late stage -- its telavancin program focusing on treating serious Gram-positive bacterial infections with Astellas Pharma Inc. and the Beyond Advair collaboration with GlaxoSmithKline. By leveraging its proprietary insight of multivalency to drug discovery focused on validated targets, Theravance is pursuing a next generation drug discovery strategy designed to discover superior medicines in large markets. For more information, please visit the company's web site at www.theravance.com.
Astellas is a pharmaceutical company dedicated to improving the health of people around the world through the provision of innovative and reliable pharmaceutical products. The organization is committed to becoming a global pharmaceutical company by combining outstanding R&D and marketing capabilities and continuing to grow in the world pharmaceutical market. For more information about Astellas Pharma Inc., please visit the company's website at www.astellas.com.
About telavancin Collaboration
In November 2005, Theravance entered into a collaboration arrangement with Astellas Pharma Inc. for the development and commercialization of telavancin worldwide except Japan. In July 2006, Theravance and Astellas expanded the collaboration to include Japan. Under the terms of the collaboration, Theravance will lead the development of telavancin for the treatment of cSSSI (complicated skin and skin structure infections), also known as cSSTI, and hospital-acquired pneumonia, and will collaborate substantially with Astellas in marketing in the United States for the first three years. Astellas will lead all other development, regulatory, manufacturing, sales and marketing activities.
THERAVANCEŽ, the Theravance logo, and MEDICINES THAT MAKE A DIFFERENCEŽ are registered trademarks of Theravance, Inc.
This press release contains certain "forward-looking" statements as that term is defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, statements relating to goals, plans, objectives and future events. Theravance intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Exchange Act and the Private Securities Litigation Reform Act of 1995. Examples of such statements include statements relating to the goals, timing and expected results of clinical and preclinical studies and regulatory review, statements regarding the potential benefits and mechanisms of action of drug candidates, the enabling capabilities of Theravance's approach to drug discovery and its proprietary insights, statements concerning expectations for product candidates through development and commercialization and projections of revenue and other financial items. These statements are based on the current estimates and assumptions of the management of Theravance as of the date of this press release and are subject to risks, uncertainties, changes in circumstances, assumptions and other factors that may cause the actual results of Theravance to be materially different from those reflected in its forward-looking statements. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, among others, risks related to delays or difficulties in commencing or completing clinical and preclinical studies, the potential that results of clinical or preclinical studies indicate product candidates are unsafe, ineffective, inferior or not superior, delays or failure to achieve regulatory approvals, and risks of collaborating with third parties to develop and commercialize products. These and other risks are described in greater detail under the heading "Risk Factors" contained in Item 1A of Theravance's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (SEC) on May 8, 2007 and the risks discussed in our other filings with the SEC. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Theravance assumes no obligation to update its forward-looking statements.
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