Vitae Expects to Receive Rights to BI-1147560 / VTP-36951
Company to Assess Program to Determine Next Steps
FORT WASHINGTON, PA, USA I July 27, 2015 I Vitae Pharmaceuticals, Inc. (VTAE), a clinical-stage biotechnology company, today announced that Boehringer Ingelheim (BI) has notified Vitae that BI is ending the parties’ collaboration and license agreement for orally-active beta secretase (BACE) inhibitors for the treatment and prevention of Alzheimer’s disease and other indications. Termination of the agreement will be effective as of October 21, 2015. BI has informed Vitae that it is exercising its right to terminate the agreement for strategic business reasons.
“We are grateful for BI’s support for the BACE program, as we have demonstrated significant progress towards the development of an oral BACE inhibitor for Alzheimer’s disease,” commented Jeff Hatfield, President and Chief Executive Officer of Vitae. “With the termination of this agreement, Vitae expects to receive the rights to the BACE program, most notably BI-1147560 / VTP-36951, and to work with BI to effect an orderly transfer. We plan to assess the program to determine the appropriate next steps.”
Previously, Vitae expected BI to initiate a Phase 1 clinical study for BI-1147560 / VTP-36951 by year-end. In pre-clinical testing, BI-1147560/ VTP-36951 was shown to be safe, well-tolerated and able to lower amyloid beta levels in the brain by over 90 percent.
About Vitae Pharmaceuticals
Vitae Pharmaceuticals is a clinical-stage biotechnology company focused on discovering and developing first-in-class, small molecule drugs for difficult-to-drug disease targets that can potentially address significant unmet medical needs, including disclosed programs in diabetes, Alzheimer’s disease, autoimmune disorders, atopic dermatitis and acute coronary syndrome. This robust and growing portfolio of novel product candidates is generated internally by Contour(R), Vitae’s proprietary structure-based drug discovery platform.
SOURCE: Vitae Pharmaceuticals
Post Views: 122
Vitae Expects to Receive Rights to BI-1147560 / VTP-36951
Company to Assess Program to Determine Next Steps
FORT WASHINGTON, PA, USA I July 27, 2015 I Vitae Pharmaceuticals, Inc. (VTAE), a clinical-stage biotechnology company, today announced that Boehringer Ingelheim (BI) has notified Vitae that BI is ending the parties’ collaboration and license agreement for orally-active beta secretase (BACE) inhibitors for the treatment and prevention of Alzheimer’s disease and other indications. Termination of the agreement will be effective as of October 21, 2015. BI has informed Vitae that it is exercising its right to terminate the agreement for strategic business reasons.
“We are grateful for BI’s support for the BACE program, as we have demonstrated significant progress towards the development of an oral BACE inhibitor for Alzheimer’s disease,” commented Jeff Hatfield, President and Chief Executive Officer of Vitae. “With the termination of this agreement, Vitae expects to receive the rights to the BACE program, most notably BI-1147560 / VTP-36951, and to work with BI to effect an orderly transfer. We plan to assess the program to determine the appropriate next steps.”
Previously, Vitae expected BI to initiate a Phase 1 clinical study for BI-1147560 / VTP-36951 by year-end. In pre-clinical testing, BI-1147560/ VTP-36951 was shown to be safe, well-tolerated and able to lower amyloid beta levels in the brain by over 90 percent.
About Vitae Pharmaceuticals
Vitae Pharmaceuticals is a clinical-stage biotechnology company focused on discovering and developing first-in-class, small molecule drugs for difficult-to-drug disease targets that can potentially address significant unmet medical needs, including disclosed programs in diabetes, Alzheimer’s disease, autoimmune disorders, atopic dermatitis and acute coronary syndrome. This robust and growing portfolio of novel product candidates is generated internally by Contour(R), Vitae’s proprietary structure-based drug discovery platform.
SOURCE: Vitae Pharmaceuticals
Post Views: 122
