Medivir acquires rights to Cathepsin S project from Peptimmune

By E. Janene Geiss

Philadelphia, Feb. 13 - Medivir AB said Monday that it has acquired all project rights for the development of Cathepsin S inhibitors from its former worldwide partner Peptimmune Inc.

As a result, Medivir said it has eliminated the balance of Peptimmune's partnership funding. Instead, Medivir said it will pay Peptimmune royalties on future income derived from the product, according to a company news release.

"The acquisition of the Cathepsin S project is consistent with Medivir's ambition to enhance the commercial potential of our protease inhibitor portfolio. The opportunity to acquire all outstanding rights without impacting Medivir's cash flow is, of course, very attractive," Medivir chief executive officer Lars Adlersson said in the release.

The project aims to develop a pharmaceutical for autoimmune and allergic disorders based on the inhibition of the protease enzyme Cathepsin S, officials said.

Medivir said it has developed several series of highly potent and selective compounds that have demonstrated efficacy in preclinical models of rheumatoid arthritis and multiple sclerosis.

One candidate drug already has been selected and optimization of compounds is underway for selection of one or more further candidate drugs, officials said.

"This agreement allows Peptimmune to focus on our core development programs in obesity, multiple sclerosis and pemphigus vulgaris. We believe that Medivir's leadership in protease inhibitor development and resources will successfully drive the Cathepsin S project towards the market as an important therapy for autoimmune diseases," Peptimmune chief executive officer Thomas Mathers said in the release.

Medivir, based in Huddinge, Sweden, and Essex, England, is a pharmaceutical company that focuses on developing drugs with proteases as the target enzyme.

Peptimmune, based in Cambridge, Mass., is a privately held clinical-stage biotechnology company focused on using both novel and proven technologies to improve the therapeutic management of chronic autoimmune and metabolic disorders.

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