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PDL BioPharma Announces Roche To Discontinue Co-Development Of Daclizumab
PDL BioPharma, Inc.
(Nasdaq: PDLI) announced today that Roche will discontinue its agreement
with PDL to jointly develop and commercialize daclizumab for organ
transplant patients on longer-term maintenance therapy. Roche made this
decision subsequent to a periodic internal review of its development
programs. This decision follows another decision by Roche earlier this year
to discontinue its involvement in the co-development of daclizumab for the
treatment of asthma. The co-development agreement between PDL and Roche
will formally terminate in May 2007.
As a result, PDL will hold exclusive development and commercial rights
to daclizumab for transplant maintenance, which has shown potential in both
the transplant maintenance and asthma indications based on earlier clinical
trials. In a separate collaboration, Biogen Idec and PDL are developing
daclizumab in multiple sclerosis and indications other than transplant and
respiratory diseases.
"We are evaluating the overall transplant maintenance indication
opportunity for daclizumab, while we continue to support the ongoing
studies of daclizumab in relapsing/remitting multiple sclerosis, and
anticipate results from the ongoing Phase 2 CHOICE study, which is testing
daclizumab in combination with beta-interferon, during 2007," said Mark
McDade, Chief Executive Officer, PDL BioPharma. "In the meantime, efforts
are ongoing to evaluate partnership opportunities for this important drug
in asthma."
PDL will provide an update on the expected financial impact, as well as
any updates on its plans for daclizumab in transplant maintenance, in
conjunction with the company's year-end 2006 financial results conference
call in February 2007.
About PDL BioPharma
PDL BioPharma, Inc. is a biopharmaceutical company focused on
discovering, developing and commercializing innovative therapies for severe
or life- threatening illnesses. The company currently markets and sells a
portfolio of leading products in the acute-care hospital setting in the
United States and Canada and generates royalties through licensing
agreements with top-tier biotechnology and pharmaceutical companies based
on its pioneering antibody humanization technology. Currently, PDL's
diverse product pipeline includes investigational compounds in Phase 2 or
Phase 3 clinical development for inflammation and autoimmune diseases,
cardiovascular disorders and cancer. The company's research platform is
focused on the discovery and development of antibodies for the treatment of
cancer and autoimmune diseases. For more information, please see PDL's
website at http://www.pdl.com.
Forward-looking Statements
The information in this press release should be considered accurate
only as of the date of the release. PDL has no intention of updating and
specifically disclaims any duty to update the information in this press
release for any reason, except as required by law, even as new information
becomes available or other events occur in the future. This press release
may contain "forward-looking statements" that are based on current
expectations and assumptions that are subject to risks and uncertainties.
The actual results may differ materially from those in the forward-looking
statements because of various factors, risks and uncertainties. In
particular, results obtained in one phase of clinical studies may not be
predictive of results to be obtained in the additional evaluations that
would be necessary to demonstrate daclizumab to be safe and effective in
the indications for which approval is sought, there can be no assurance
that PDL will initiate subsequent clinical trials of daclizumab and PDL may
not successfully negotiate development and commercialization collaboration
or alliance for daclizumab in asthma. For further information regarding
factors, risks and uncertainties that may cause such differences, please
refer to the filings PDL has made with the Securities and Exchange
Commission, including the "Risk Factors" sections of PDL's Quarterly and
Annual Reports, copies of which may be obtained at the "Investors" section
on PDL's website at http://www.pdl.com. All forward-looking statements in this
press release are qualified in their entirety by this cautionary statement.
PDL BioPharma and the PDL BioPharma logo are considered
trademarks of PDL BioPharma, Inc.
PDL BioPharma, Inc.
http://www.pdl.com
PDL BioPharma Roche anunta de a întrerupe de co-dezvoltare de Daclizumab - PDL BioPharma Announces Roche To Discontinue Co-Development Of Daclizumab - articole medicale engleza - startsanatate