NeuroVive announces Arbutus Biopharma’s notice of termination
Lund, Sweden, July 6, 2016 - NeuroVive Pharmaceutical AB (Nasdaq Stockholm: NVP, OTCQX: NEVPF), the mitochondrial medicine company, today announces that Arbutus Biopharma (formerly OnCore Biopharma, Inc.) has given NeuroVive a purported notice of termination of the license agreement signed in 2014, related to the development and commercialization of NeuroVive’s compound NVP018 for oral treatment of HBV. Arbutus’ notice, which NeuroVive questions on several grounds and in respect of which NeuroVive has reserved its rights, is a consequence of Arbutus’s decision to discontinue development of OCB-030 (NVP018), as communicated in October 2015. The fate of the license remains under discussion between the parties.
NeuroVive Pharmaceutical AB (publ) is a pioneer in mitochondrial medicine and a company committed to the discovery and development of highly targeted candidates that preserve mitochondrial integrity and function in areas of significant therapeutic need. NeuroVive's business approach is driven by value-adding partnerships with mitochondrial research institutions and commercial partners across the globe.
NeuroVive's portfolio consists of two clinical projects, one in acute kidney injury (CicloMulsion®) and one in traumatic brain injury (NeuroSTAT®). The candidate drug NeuroSTAT has orphan drug designation in Europe and in the US for treatment of moderate to severe traumatic brain injury and is currently being evaluated in the CHIC study. CicloMulsion is being evaluated in an on-going study, CiPRICS, in acute kidney injury during major surgery. Furthermore, the R&D portfolio consists of two late stage discovery programs and one compound in preclinical development.
NeuroVive is listed on Nasdaq Stockholm, Sweden, Small Cap, under the ticker symbol NVP. The share is also traded on the OTC Markets Group Inc market in the US. NeuroVive Pharmaceutical (OTC: NEVPF) trades on the OTCQX Best Market.
For investor relations and media questions, please contact:
Cecilia Hofvander, NeuroVive, Tel: +46 (0)46 275 62 21 or firstname.lastname@example.org
NeuroVive Pharmaceutical AB (publ)
Medicon Village, SE-223 81 Lund, Sweden
Tel: +46 (0)46 275 62 20 (switchboard), Fax: +46 (0)46 888 83 48
This information is information that NeuroVive Pharmaceutical AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.30 CEST on July 6, 2016.
NeuroVive Pharmaceutical AB (publ) - the mitochondrial medicine company. The company is listed on Nasdaq Stockholm, Small Cap, under the ticker symbol NVP. The share is also traded on the OTC Markets Group Inc market in the US. NeuroVive Pharmaceutical (OTC: NEVPF) trades on the OTCQX Best Market. Investors can find Real-Time quotes and market information for the company at www.otcmarkets.com/stock/NEVPF/quote.