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WEST CHESTER, Pa., and HIGH POINT, N.C., June 24 /PRNewswire-FirstCall/ --
Cephalon, Inc. (Nasdaq: CEPH) and TransTech Pharma, Inc. today announced a
multi-year research collaboration using TransTech's proprietary Translational
Technology™ to discover and develop small molecules for up to three
therapeutic targets.
Under the agreement, Cephalon has the exclusive right to develop and
commercialize all compounds directed at each of the targets covered by the
collaboration. TransTech would receive payments upon the achievement of
specified research, clinical and commercialization milestones. In addition,
TransTech would receive royalties on future product sales. Specific terms of
the agreement were not disclosed.
"The collaboration with TransTech is another step in maximizing the
potential of our drug discovery efforts by utilizing TransTech's technology to
enhance and diversify Cephalon's pipeline of potential therapeutics," said
Jeffry L. Vaught, Ph.D., Senior Vice President and President of Research and
Development at Cephalon.
Adnan Mjalli, Ph.D., Founder, President and Chief Executive Officer of
TransTech, said: "We are very excited to enter into this collaboration with
Cephalon, a premier international biopharmaceutical company, having special
expertise and strength in the fields of oncology and CNS-related disorders.
The coupling of Cephalon's discovery and development capabilities with
TransTech's Translational Technology™ is a powerful combination designed to
result in the expedited discovery of patentable clinical drug candidates."
TransTech's Translational Technology™ is a highly automated and fully
integrated drug discovery process including proprietary software modules. The
technology already has shown promise against a wide range of biological
targets including protein-protein interactions, receptor modulators and enzyme
inhibitors, and delivered small-molecule-based pre-clinical drug candidates
for the treatment of diabetes, cancer, inflammation, Alzheimer's disease and
thrombosis.
Cephalon, Inc.
Cephalon, Inc. is an international biopharmaceutical company dedicated to
the discovery, development and marketing of innovative products to treat sleep
and neurological disorders, cancer and pain. Cephalon employs 1,200 people in
the United States and Europe. The company markets three proprietary products
in the United States and more than 20 products internationally. Additional
information about Cephalon can be found online at http://www.cephalon.com.
TransTech Pharma, Inc.
TransTech Pharma, Inc. is a privately held drug discovery company
employing approximately 65 people. The company's high throughput drug
discovery platform translates the wealth of information from genomics and
proteomics into novel small molecules as therapeutics. TransTech intends to
enter into additional collaborations for drug discovery and development with
other leading biotechnology and pharmaceutical companies. In addition,
TransTech is currently active in the development of its own pipeline. For
further company information, visit http://www.ttpharma.com.
In addition to historical facts or statements of current condition, this
press release may contain forward-looking statements. Forward-looking
statements provide Cephalon's current expectations or forecasts of future
events. These may include statements regarding anticipated scientific
progress on its research programs, development of potential pharmaceutical
products, interpretation of clinical results, prospects for regulatory
approval, manufacturing development and capabilities, market prospects for its
products, sales and earnings projections, and other statements regarding
matters that are not historical facts. You may identify some of these
forward-looking statements by the use of words in the statements such as
"anticipate," "estimate," "expect," "project," "intend," "plan," "believe" or
other words and terms of similar meaning. Cephalon's performance and
financial results could differ materially from those reflected in these
forward-looking statements due to general financial, economic, regulatory and
political conditions affecting the biotechnology and pharmaceutical industries
as well as more specific risks and uncertainties such as those set forth below
and in its reports on Form 8-K, 10-Q and 10-K filed with the U.S. Securities
and Exchange Commission. Given these risks and uncertainties, any or all of
these forward-looking statements may prove to be incorrect. Therefore, you
should not rely on any such factors or forward-looking statements.
Furthermore, Cephalon does not intend to update publicly any forward-looking
statement, except as required by law. The Private Securities Litigation
Reform Act of 1995 permits this discussion.
For Further Information Contact:
Cephalon:
Robert W. Grupp
Vice President,
Corporate Communications
Phone: 610-738-6402
e-mail:
Robert S. (Chip) Merritt
Senior Director
Investor Relations
Phone: 610-738-6376
e-mail:
TransTech Pharma, Inc
Adnan Mjalli, PhD
President and Chief Executive Officer
Phone: 336-841-0300 Ext. 101
Fax: 336-841-0333
e-mail:
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