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Milan and London, Tuesday, 11 January 2005 -
Rottapharm S.p.A. and Xytis Pharmaceuticals Ltd.
announced they have signed an agreement regarding
the development and commercialisation of
Rottapharm's CR2249, a potential new psychotropic
medication for the treatment of a variety of
disorders.
Xytis has acquired an exclusive license to develop
and market the compound in the United States,
Canada, Japan, Australia and New Zealand, while
Rottapharm retains rights in the rest of the world.
The companies have not disclosed further terms of
the agreement.
Professor Luigi Rovati, MD, President of Rottapharm
S.p.A., commented: “XY 2401’s unique pharmacological
properties may provide the basis for establishing a
novel treatment paradigm in schizophrenia and
potentially other CNS disorders. We are delighted to
have entered into that partnership with Xytis, with
the objective to progress the development of XY 2401
globally”
Dr. Werner Tschollar, founder of Xytis
Pharmaceuticals Ltd., said: “XY 2401 is the first
compound in-licensed by our company and a very
exciting one in terms of mechanism of action,
existing pre-clinical data and the possibility to
address unmet medical needs in schizophrenia in
particular, a major burden to society. Xytis will
continue to develop its pipeline with a few
additional in-licensing transactions of this type
geared towards compounds that present the same level
of innovation and address critical needs in the
field of CNS.”
About XY 2401
XY 2401 is a positive allosteric glycine-site
specific modulator of the glutamate NMDA receptor
complex. As demonstrated in numerous peer-reviewed
publications, endogenous dysfunction or
dysregulation of neurotransmission mediated at the
NMDA glutamate receptor complex may contribute
significantly to the underlying pathophysiology of
schizophrenia, in particular to the negative
symptomatology and cognitive impairment of the
disease. XY 2401 will start Phase I clinical studies
in early 2005.
About Rottapharm
Rottapharm is a multinational pharmaceutical group
based in Italy. The Group was founded in 1961 by
Professor Luigi Rovati, professor of pharmacology at
the University of Pavia, Italy. Professor Rovati
created Rotta Research Laboratorium S.p.A. as an
independent research laboratory, which is now the
headquarters of the group named Rottapharm. The goal
of Rottapharm is the discovery, development and
distribution around the world of new original drugs
for the treatment of major diseases. Rottapharm's
strategic therapeutic areas are anti-inflammatory,
anti-rheumatic, bone metabolism and menopause,
gastrointestinal disorders. Rottapharm has other
arrangements in progress for the development of nine
new chemical entity projects deriving from its own
internal discovery. These projects involve compounds
directed to rheumatic, gastroenterological,
respiratory and CNS disorders. Arrangements include
development through Rottapharm’s own internal
capabilities for most of the compounds and
co-development with industrial partners for some of
them.
Please visit us at
www.rotta.com
About Xytis Pharmaceuticals Ltd.
Xytis Pharmaceuticals Ltd. is a venture-backed
biopharmaceutical company focused on the
in-licensing and the development of innovative CNS
drug candidates addressing major unmet needs in the
psychiatric and neurological fields. The company was
founded by Dr. Werner Tschollar, a seasoned
entrepreneur and former pharmaceutical industry
executive, and is funded by Atlas Venture and CDC
Entreprises Innovation.
For more information contact:
Giovanna Forlanelli
Rottapharm Spa
Dr. Werner Tschollar
Xytis Pharmaceuticals Ltd.
e-mail: 
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