Healthcare Industry News: Plasmin
News Release - November 12, 2007
PAION is Seeking a New US-Partner for DesmoteplasePresentation at Bio-Europe
AACHEN, Germany--(HSMN NewsFeed)--PAION AG (FWB:PA8) announced today that the company is now actively seeking a new US-partner for its lead compound Desmoteplase. While the last Desmoteplase Phase III stroke study initially led to inconclusive results, a re-analysis of the data yielded a sound rationale for the further development of the compound with an adjusted study design, namely by focusing on patients with obstructed major brain arteries. For these patients the data from phase II and phase III Desmoteplase studies suggest a therapeutic benefit although the results fell short of any statistical significance due to the low patient numbers of the subgroups.
As PAION's former partner Forest Laboratories, Inc. decided to return all rights to Desmoteplase under its sub-license agreement , PAION has now initiated the search for a new partner for North America.
PAIONís COO, Alexander Vos, will present an update on the substance and on PAION on 14 November 2007 at 10.45 a.m. at the International Partnering Conference BIO-Europe, currently taking place in Hamburg (Germany). The PAION team is available to meet with interested parties at any time during or after the congress.
Desmoteplase, the most fibrin-specific Plasminogen activator known today, is a genetically engineered version of a clot-dissolving protein found in the saliva of the vampire bat Desmodus rotundus. It has received fast-track designation from the U.S. Food and Drug Administration for the indication of acute ischemic stroke.
Stroke is the third leading cause of death in the industrialised world and a leading cause of serious, long-term disability. In the US alone, 700,000 people suffer a stroke each year, and around 20% of them die within four weeks. For the US, the American Heart Association expects the financial burden of stroke due to in-hospital costs, long-term care programs and productivity losses to exceed 62 billion dollars in 2007 alone.
PAION is a biopharmaceutical company based in Aachen, Germany (listed at Frankfurt Stock Exchange, Prime Standard, ISIN DE000A0B65S3). It aims to become a leader in developing and marketing innovative drugs for the treatment of stroke and other thrombotic diseases for which there is a substantial unmet medical need.
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