Medivir terminates the ADAM8 inhibitor project for pancreatic cancer
Stockholm, Sweden — Medivir AB (Nasdaq Stockholm: MVIR) today announces that it will terminate its ADAM8 inhibitor project for pancreatic cancer. The closure of the project follows a semi-annual review of the company’s R&D project portfolio, which deprioritized the project based on data generated during the last six months. As a consequence the license agreement with Cancer Research Technology (CRT) for ADAM8 inhibitors and the collaboration with CRT and TransMIT GmbH will be terminated.
With the closure of this project, internal resources are transferred to the company’s other oncology discovery projects. These projects are focused on the identification of new treatments for hepatocellular carcinoma, pancreatic cancer and other areas of high unmet medical need among cancer patients, and utilize Medivir’s core technologies of protease inhibitor design and nucleoside/nucleotide science.
For further information, please contact:
Ola Burmark, CFO Medivir AB, mobile: +46 (0) 725 480 580
Richard Bethell, EVP Discovery Research Medivir AB, mobile: +46 (0) 727 043 211
Medivir is required under the Securities Markets Act to make the information in this press release public.
The information was submitted for publication at 08.30 CET on 17 November 2015.
Medivir is a research based pharmaceutical company with a research focus on infectious diseases and oncology. We have a leading competence within protease inhibitor design and nucleotide/nucleoside science and we are dedicated to develop innovative pharmaceuticals that meet great unmet medical need. Our commercial organization provides a growing portfolio of specialty care pharmaceuticals on the Nordic market. Medivir is listed on the Nasdaq Stockholm Mid Cap List.