Abbott
and Enanta Form Alliance to Develop HCV Protease Inhibitors
Abbott
Laboratories and Enanta Pharmaceuticals announced on December 12, 2006 that they
had formed a partnership to develop new protease inhibitors for the treatment
of hepatitis C.
The following is an excerpt from the companies' press
release:
Abbott
and Enanta Form Worldwide Alliance to Develop and Commercialize HCV Protease
Inhibitors
Abbott
Park, Illinois, and Watertown, Massachusetts, December 12, 2006 - Abbott and Enanta
Pharmaceuticals announced today that the companies have signed a worldwide agreement
to develop and commercialize hepatitis C virus (HCV) NS3 and NS3/4A protease inhibitors.
Enanta has discovered several HCV protease inhibitors that have demonstrated attractive
pharmacokinetic profiles and efficacy and in pre-clinical studies.
"Abbott's
innovative work in the protease inhibitor field against the Human Immunodeficiency
Virus (HIV) has provided the momentum and the foundation for our research interest
in HCV infection," said John Leonard, MD, vice president, Global Pharmaceutical
Research and Development, Abbott. "Enanta has done compelling work in its
HCV protease inhibitor program, and we look forward to working together on the
advancement of this global program."
"Abbott is a market leader
in the field of antiviral therapies, and we have a shared vision and commitment
to the discovery and development of promising HCV therapies that address this
high unmet medical need globally," stated Jay Luly, PhD, president and CEO
of Enanta Pharmaceuticals.
Under the terms of the agreement, Abbott gains
worldwide access to Enanta's substantial intellectual property position for a
variety of different types of compounds, which includes several issued U.S. patents.
Abbott also gains access to Enanta's drug discovery capabilities in the HCV NS3
and NS3/4A protease inhibitor field. The closing of the transaction is subject
to antitrust clearance under the Hart-Scott-Rodino Act.
Upon closing, Enanta
will receive an upfront payment of $57 million, which includes a cash payment
and an equity investment. If all potential clinical and regulatory milestones
are met, additional payments of up to $250 million will be made to Enanta, and
further payments will be due if multiple products develop from the program. Enanta
will receive double-digit royalties and holds an option to fund 40 percent of
development costs and U.S. commercialization efforts (sales and promotion costs)
in exchange for a 40 percent profit share in the United States on medicines from
this alliance that result in commercial approval.
"Through this alliance,
we will enhance our HCV protease inhibitor program and allow both companies to
participate in the long-term value creation of these compounds by leveraging Enanta's
core expertise in chemistry and drug discovery with Abbott's proven track-record
in the discovery, development, and commercialization of antiviral therapies,"
stated Yujiro S. Hata, senior vice president of Business Development at Enanta
Pharmaceuticals. About Hepatitis C Virus
Hepatitis
C is a liver disease affecting more than 170 million people worldwide. The virus
is spread through direct contact with the blood of an infected person. Hepatitis
C increases a person's risk of developing chronic liver disease, cirrhosis, liver
cancer, and death. Liver disease associated with HCV infection is growing rapidly,
and current therapies only provide sustained benefit in about half of patients
with the genotype 1 form of the virus. Specifically targeted antiviral therapies
for HCV, such as NS3/4A protease inhibitors, may have the potential to increase
the proportion of patients in whom the virus can be eradicated.
About
Enanta
Enanta
Pharmaceuticals is a research and development company that uses its novel chemistry
approach and drug discovery capabilities to create best in class small molecule
drugs in the anti-infective field. At the heart of Enanta is its commitment to
innovative chemistry that surpasses traditional medicinal chemistry approaches.
The company's successful integration of chemistry with biology has created a new
class of macrolide antibiotics that overcome bacterial resistance. Antibacterial
focus areas include community respiratory tract infections as well as hospital
and community infections relating to MRSA. Additionally, Enanta has discovered
antiviral agents targeted against the Hepatitis C virus (HCV). More information
about the company can be found at www.enanta.com.
About
Abbott
Abbott
is a global, broad-based health care company devoted to the discovery, development,
manufacture and marketing of pharmaceuticals and medical products, including nutritionals,
devices and diagnostics. The company employs 65,000 people and markets its products
in more than 130 countries.
Abbott's news releases and other information
are available on the company's web site at www.abbott.com.
About
Enanta 
About
Abbott 
