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CalciMedica Exercises Option to Acquire Additional Intellectual Property from TorreyPines Therapeutics
LA JOLLA, CA, October 13, 2008 -- TorreyPines Therapeutics, Inc. (Nasdaq:TPTX) and CalciMedica, Inc. today announced CalciMedica will exercise its exclusive option to acquire intellectual property pertaining to STIM1, a key target in the Icrac immune system pathway, and CRAC channel inhibitors for use in the field of central nervous system (CNS) disorders. In April 2007, the companies agreed to the transfer of STIM1 technology and CRAC channel inhibitors from TorreyPines to CalciMedica for use in autoimmune and inflammatory diseases, with an option for CalciMedica to acquire the CNS rights. Under the terms of the agreement announced today, TorreyPines will receive an upfront payment and is eligible to receive milestone and royalty payments for future products based on the licensed technology.
“We are delighted to expand our existing agreement with CalciMedica, marking another step forward in our strategy to monetize non-core assets and focus our resources on rapidly advancing our clinical stage product candidates,” said Ev Graham, acting Chief Executive Officer of TorreyPines. “CalciMedica, an emerging leader in novel immunomodulator research, is well positioned to explore the full potential of this exciting technology and we look forward to their continued progress.”
CalciMedica’s technology platform is based on exploiting the immunomodulatory potential of intervening in the Icrac cell signaling immune response pathway by targeting Orai1 and STIM1, the principal components of the CRAC channel complex. CalciMedica’s drug discovery efforts were initiated in 2007 with the successful acquisition of exclusive rights to Orai1 in all fields from the Immune Disease Institute (formerly The CBR Institute for Biomedical Research), an affiliate of Harvard Medical School, and the acquisition of rights to STIM1 from TorreyPines Therapeutics in fields excluding CNS.
“Acquiring additional rights to STIM1 technology and CRAC channel inhibitors completes our ownership of fields of use covering all therapeutic areas, now including the development of novel immunomodulators to treat important CNS diseases such as multiple sclerosis,” said Gonul Velicelebi, Ph.D., President and Chief Executive Officer of CalciMedica. “Over the last year, CalciMedica has made significant progress in integrating this technology into its proprietary drug discovery platform and generating a pipeline of novel small molecule immunomodulators that have potential utility in a broad range of diseases.”
About CalciMedica
CalciMedica is a leader in the area of calcium release-activated calcium (CRAC) channels, a key component of the Icrac pathway in immune cells. The Icrac calcium entry pathway is essential for the adaptive immune response, and has been validated as an important drug target in humans. CalciMedica utilizes its platform based on STIM1 and Orai1, the gatekeepers of the CRAC channels, to discover and develop novel small molecule drugs for the treatment of autoimmune and inflammatory diseases. CalciMedica is funded by investments from SR One and Sanderling Ventures. The company is located in La Jolla, California. For more information, please contact CalciMedica at info@calcimedica.com.
About TorreyPines Therapeutics, Inc.
TorreyPines Therapeutics, Inc. is a biopharmaceutical company committed to providing patients with better alternatives to existing therapies through the research, development and commercialization of small molecule compounds. The company’s goal is to develop versatile product candidates, each capable of treating a number of acute and chronic diseases and disorders such as migraine, chronic pain, muscle spasticity, xerostomia and cognitive disorders. The company is currently developing three product candidates: two ionotropic glutamate receptor antagonists and one muscarinic receptor agonist. Further information is available at www.torreypinestherapeutics.com.
Contacts:
Company Contact:
Paul Schneider
TorreyPines Therapeutics, Inc.
858-623-5665, x125
pschneider@torreypinestherapeutics.com
Investor Contact:
Rhonda Chiger
Rx Communications
917-322-2569
rchiger@rxir.com
CalciMedica Contact:
Gonul Velicelibi
CalciMedica, Inc.
858-952-5501
gonul@calcimedica.com
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