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UK-based Aesica Pharmaceuticals today announced that they have signed a multimillion-dollar agreement with US biopharmaceutical company Myriad Pharmaceuticals Inc.
The contract, which will last an initial 10 years, is for the supply of R-Flurbiprofen, an active pharmaceutical ingredient (API) for Myriad's investigative drug Flurizan™.
Flurizan™ is being studied for its ability to lower levels of Amyloid beta 42, a toxic peptide that is believed to be a chief cause of Alzheimer's disease. A Phase 3 clinical trial using Flurizan™ in patients with Alzheimer's disease has recently been initiated by Myriad.
The trial will be conducted with approximately 750 patients with mild to moderate Alzheimer's disease at approximately 100 centres in the United States.
Under the supply agreement, Aesica will be the primary supplier of Myriad's worldwide requirements for the compound.
Aesica is a major supplier of active pharmaceutical ingredients and is the largest supplier of Flurbiprofen-based products in the world.
It develops and manufactures products at its site at Cramlington, England, which is approved by regulators in Europe and North America.
The firm was the subject of a management buyout in September 2004 which saw its management team backed by private equity firm LDC, acquire the company from previous operators BASF.
Dr Robert Hardy, managing director of Aesica, said: "This is an important milestone in the development of our company. We have many years of experience with this technology, a patented process and large-scale production capabilities.
"It is the first of a number of contract manufacturing opportunities that we are working on. We have built a strong partnership with Myriad over the last few months and look forward to a long and successful relationship.
"Alzheimer's is a widespread disease affecting nearly half of those aged over 85 which equates to some 25 million people worldwide. It is currently proving difficult to treat effectively with existing remedies. It is good to be working with a company at the forefront of finding a treatment with the hope of preventing or slowing the progression of the disease."
Dr Adrian Hobden, Ph.D., president of Myriad Pharmaceuticals Inc, said: "We are pleased to have selected Aesica Pharmaceuticals to be our primary supplier of Flurizan. We look forward to a long association with this world-class manufacturer."
ENDS 24 January 2005
Press information: James Lloyd-Davies or Charles Tattersall, Citypress PR. T: 0161 606 0268 or 07782 135828.
Further information on Aesica Pharmaceuticals is available on the company's website at: www.aesica-pharma.co.uk
For more information on Myriad Pharmaceuticals Inc and Flurizan™, go to: www.myriad.com
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