Stiefel, a GSK company, enters agreement with Welichem Biotech, Inc. to acquire a novel topical agent for psoriasis and atopic dermatitis

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• Publié par: glaxosmithkline-plc
• Nombre de lectures: 13
• Langue: English

Extrait

Stiefel, a GSK company, enters agreement with

Welichem Biotech, Inc. to acquire a novel

topical agent for psoriasis and atopic

dermatitis

PR Newswire

RESEARCH TRIANGLE PARK, North Carolina, May 30, 2012

RESEARCH TRIANGLE PARK, North Carolina

,

May 30, 2012

/PRNewswire/ --

Stiefel, a GSK (NYSE:GSK) company, and Welichem Biotech, Inc. (WBI:CN),

have entered into an agreement for the acquisition by Stiefel of exclusive

development and commercialization rights to the novel anti-inflammatory

agent, WBI-1001, in all territories outside of

China

,

Taiwan

,

Macao

and Hong

Kong. WBI-1001 is currently in Phase II clinical development for the treatment

of psoriasis and atopic dermatitis. The transaction is subject to approval by

Welichem shareholders.

Welichem will receive an initial payment of

CAD$35 million

and is eligible to

receive additional milestone payments upon achievement of certain clinical

development milestones and upon commercialization in certain countries

following marketing approval from the corresponding regulatory agencies.

Under terms of the agreement, Stiefel has also received a conditional right to

acquire further exclusive rights to develop and commercialize WBI-1001 in

China

,

Taiwan

,

Macao

and

Hong Kong

, collectively. Upon satisfaction of certain

conditions, Welichem will receive an additional payment of

CAD$15million

.

"I'm delighted to build upon Stiefel's clinical pipeline of novel dermatology

assets with the acquisition of WBI-1001," said Barbara White, Senior Vice

President and Head of Research and Development, Stiefel. "We have a strong

commitment to patients with skin conditions and are excited to undertake

development of this innovative agent."

About WBI-1001

: WBI-1001 is a novel, non-steroidal, topical anti-

inflammatory new chemical entity (NCE) that has demonstrated efficacy and

safety in Ph1 and Ph2 clinical trials for the treatment of mild to moderate

psoriasis[i] and moderate to severe atopic dermatitis[ii] for up to 12 weeks as a

single therapy.

About Stiefel, a GSK company

Stiefel, a GSK company, is committed to advancing dermatology and skin

science around the world in order to help people better achieve healthier skin.

Stiefel's dedication to innovation, along with its focus on pharmaceutical, over-

the-counter and aesthetic dermatology products, has established Stiefel as a

world leader in the skin health industry. To learn more about Stiefel, visit

www.stiefel.com.

Cautionary statement regarding forward-looking statements

Under the safe harbor provisions of the U.S. Private Securities Litigation Reform

Act of 1995, Stiefel, a GSK company, cautions investors that any forward-

looking statements or projections made by Stiefel, a GSK company, including

those made in this announcement, are subject to risks and uncertainties that

may cause actual results to differ materially from those projected. Factors that

may affect Stiefel, a GSK company's operations are described under 'Financial

review & risk section" in GSK's Annual Report 2011 included as exhibit 15.2 to

GSK's Annual Report on Form 20-F for 2011.

References:

[i] British Journal of Dermatology; 166(4):853-60

[ii] Journal of the European Academy of Dermatology and Venereology,Early

View, Article first published online:

12 NOV 2011