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Curidium Announces Strategic Partnership with Takeda Research Investment, Inc. -Investment Focus on Major Depressive Disorder-
LONDON, UK, 5th December 2007, Curidium Medica plc, (LSE:CUR), a personalized
medicine company focused on bringing the right drug to the right patient, announced today that
it has entered into a strategic partnership with Takeda Research Investment, Inc. (TRI), the
corporate investment arm of Takeda Pharmaceutical Company, Limited. As part of the
agreement TRI will purchase 10,491,803 ordinary shares and warrants for 20 million additional
ordinary shares in the Company. The Company will use the proceeds to initiate research, using
its proprietary platform Homomatrix®, to identify potential patient subgroups within Major
Depressive Disorder characterized by unique gene expression profiles and specific drug targets.
The warrant exercise is dependent on completion of the research program and future licensing.
In addition, TRI and Curidium have entered into a license option agreement whereby Takeda
Pharmaceutical Company Limited, through TRI, receives an option right to select Major
Depressive Disorder biomarker and drug target discoveries made by Curidium and to negotiate a
license to the intellectual property rights in those assets. Financial terms for the license are
expected to include upfront payments, milestones and royalties on product sales.
“This investment by TRI reflects a confidence in our approach to personalized medicine and
allows Curidium to collaborate with the leading Japanese pharmaceutical company intent on
expanding its significant global presence”, stated Gosse B. Bruinsma, MD, Curidium’s Executive
Chairman. “We are looking forward to collaborating with Takeda and delivering on this
important research program.”
“We are delighted to have this opportunity to work with Curidium and are encouraged by their
personalized medicines advances and approach to major depression,” commented Dr. Graeme
Martin, TRI’s President & CEO. “This indication is a key strategic focus for Takeda and we
expect that reliable methods for patient stratification will bring significant therapeutic benefits in
this area of exceptional medical need.”
Major Depressive Disorder is one of the most prevalent psychiatric illnesses in the United States,
estimated to affect over 20 million adults in the US alone. Depression is also the leading cause
of disability worldwide. As observed in the landmark STAR*D trial, only 25 - 40% of depressed
patients are able to achieve clinical remission with the most commonly used anti-depressive
agents. By identifying markers for subpopulations of patients with depression, Curidium
believes that tailoring treatment to patient types may be possible.
The 10,491,803 new ordinary shares represent 1.85% of the enlarged share capital of the
Company. Application for admission of the new ordinary shares to trading on AIM is expected to
occur on 11th December 2007. Following admission of the new ordinary shares the Company will
have 568,303,195 ordinary shares in issue.
The new ordinary shares and warrants have been issued for a total initial payment of one million
two hundred and fifty thousand pounds (£1,250,000). The 10,491,803 new ordinary shares
have an issue price of 3.813p representing the average of the Company’s closing share price in
the last 10 days of trading. The warrants for the purchase of 20 million ordinary shares shall be
at a price ranging from par value (0.1 pence) in the event of a non-delivery by Curidium of a
final report within 22 months of the execution of the agreement to one hundred and fifty percent
(150%) of the issue price should Takeda choose not to license intellectual property resulting
from the research program.
-Ends-
For further information, please contact:
Gosse B. Bruinsma, M.D. +31 (0) 629 046 397
Executive Chairman, Curidium Medica plc
Rob Smith +44 (0) 20 7554 8793
Finance Director, Curidium Medica plc
Rhodri Cruwys / Romil Patel +44 (0) 20 7448 4400
Blue Oar Securities Plc
Billy Clegg / Edward Westropp / Annie Evangeli + 44 (0) 20 7831 3113
Financial Dynamics
About Curidium Medica plc (Curidium)
Curidium is a personalized medicine company developing companion diagnostics and targeted
medicines to treat patients more effectively.
Curidium’s initial focus on diseases of the Central Nervous System has resulted in the
identification of a blood diagnostic test, PsychINDx™, which classifies patients with
schizophrenia/bipolar disorder into four subgroups. PsychINDx™ may have the potential to
improve the treatment of patients with schizophrenia/bipolar disorder.
Many chronic human diseases are heterogeneous with patient populations consisting of mixed
subgroups. Through the use of its proprietary analysis tool, Homomatrix®, Curidium aims to
reveal different patient subgroups characterized by distinct underlying disease mechanisms
potentially leading to the identification of:
1. Diagnostics for better identification and treatment within heterogeneous disease
populations.
2. Improved therapies identified through novel drug targets.
3. Personalized medicines using companion diagnostics and targeted treatments.
Curidium intends to continue to use this approach to improve patient treatments in a variety of
therapeutic areas. Further information on Curidium can be found at the Company's website:
www.curidium.com.
About Takeda Research Investment, Inc. (TRI)
Located in Palo Alto, California, Takeda Research Investment, Inc. (TRI) is a wholly owned
subsidiary of Takeda Pharmaceutical Company Limited (TPC), the largest pharmaceutical
company in Japan. TRI’s mission is to identify, help create and support the development of new
therapeutic drug discovery opportunities worldwide as a strategic investor on behalf of TPC. The
primary focus of TRI is on medium- and long-term returns in the form of products and
technologies for Takeda group. Takeda is committed to striving toward better health for
individuals and progress in medicine by developing superior pharmaceutical products. To learn
more about the company, visit www.tri-takeda.com |
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