SYGNIS AG and DR REDDYS Pharmaceutical Company sign exclusive supply collaboration for AX200 in stroke
December 20, 2007 (PRLEAP.COM) Health NewsSYGNIS Pharma AG (Frankfurt: LIO; ISIN DE0005043509; Prime Standard) and the leading Indian pharmaceutical company Dr. Reddy’s Laboratories (NYSE: RDY) today announced the sign-ing of an exclusive 10 year agreement for the supply of the active pharmaceutical ingredient AX200, a biological molecule in development by SYGNIS for the treatment of Stroke and other neurodegenerative disorders. The Agreement secures the supply of AX200 far beyond the clinical development and provides a solid basis for the envisaged marketing of the compound.
Dr. Cartikeya Reddy, Head of Biologics at Dr. Reddy’s, said, "Biopharmaceutical Services is a fast growing business segment globally with a limited number of service providers. Our strategic decision to exclusively produce a biological molecule for a partner is a first in the history of Dr. Reddy’s and fits very well within our Custom Pharmaceutical Services' business model.
AX200 for the treatment of acute stroke is the most advanced drug candidate in SYG-NIS’ product pipeline. The AX200 protein is produced at highly elevated levels in the brain, as part of an endogenous protective mechanism after brain damage. Thus, if this drug administered in the acute phase of Stroke, the brain’s own protective action is further boosted. This offers a highly beneficial, dual neurotherapeutic approach which has been discovered by SYGNIS. AX200 stops neuronal cell death in the acute phase of Stroke, and in addition, it stimulates the regeneration of the already damaged nervous tissue through the stimulation of neurogenesis as well as arteriogenesis and the reorganization of neuronal networks. Besides Stroke, AX200 is currently in preclinical testing for further neurodegenerative indications such as Amyotrophic Lateral Sclerosis (ALS).
SYGNIS Pharma AG Contact Information:
Dr. Franz-Werner Haas
Vice President Operations
+49 (0) 6221 454 812
Dr. Reddy’s Contact Information:
Custom Pharmaceutical Services Europe:
Marcel Velterop at email@example.com or on +41 (0)797733453
Investors and Financial Analysts:
Nikhil Shah at firstname.lastname@example.org or on +91-40-23731946 ext. 308
Mythili Mamidanna at at email@example.com or on +91-40-66511620