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Johnson & Johnson
Johnson & Johnson
06/28/2012 | Press release
Janssen Acquires Corimmun
distributed by noodls on 06/28/2012 08:38
NEUSS, GERMANY (JUNE 28, 2012) - Janssen-Cilag GmbH
(Janssen) today announced it has completed the acquisition
of CorImmun GmbH, a privately held drug development company
in Germany, for an undisclosed upfront payment and a
contingent future clinical milestone payment.
CorImmun's lead compound, COR-1, is a small cyclic peptide
currently in early clinical development for the treatment
of heart failure. COR-1 has been shown in preclinical
studies to improve heart function by decreasing autoimmune,
beta 1 receptor-simulating antibody effects. Under terms of
the agreement, Janssen and its affiliates immediately
assume full development and global commercialization
responsibilities for the compound.
Heart failure is generally a progressive disease
characterized by the heart muscle's inability to adequately
pump oxygenated blood through the body. An estimated 23
million people around the globe have been diagnosed with
heart failure, a number that is projected to increase. For
most causes of heart failure, there is no known cure.
"The prevalence of heart failure is rising rapidly, and
COR-1 is an early stage development compound with a novel
mechanism for treating heart failure that has the potential
to improve heart function by suppressing antibodies that
can exacerbate this condition," said Peter M. DiBattiste,
M.D., Global Therapeutic Area Head, Cardiovascular Disease
and Metabolism at Janssen Research & Development. "This
acquisition demonstrates Janssen's commitment to investing
in innovative science in an area of great unmet medical
need, where new therapies can improve the quality of
patient care."
About Janssen
At Janssen we are dedicated to addressing and solving some
of the most important unmet medical needs of our time in
oncology, immunology, neuroscience, infectious diseases and
vaccines, and cardiovascular and metabolic diseases. Driven
by our commitment to patients, we develop innovative
products, services and healthcare solutions to help people
throughout the world. Janssen-Cilag GmbH and Janssen
Research & Development, LLC are part of the Janssen
Pharmaceutical Companies of Johnson & Johnson.http://www.janssenrnd.com
for more information.
# # #
Media contacts:
Christina Chan
Phone: 908.927.5769
Mobile: 908.625.2406
cchan20@its.jnj.com
Investor contacts:
Stan Panasewicz
Phone: 732.524.2524
Louise Mehrotra
Phone: 732.524.6491
