CAMBRIDGE, Mass.--(BUSINESS WIRE)--Oct. 5, 2009--
CombinatoRx, Incorporated (NASDAQ: CRXX), today announced that its
ophthalmic collaborator, Fovea Pharmaceuticals SA, has entered into a
proposed acquisition with Sanofi-Aventis. A CombinatoRx-derived
combination drug candidate, Prednisporin, (FOV1101), which is a fixed
dose combination of prednisolone and cyclosporine, is the most advanced
product asset in the Fovea pipeline, with Phase 2b clinical studies
planned for the treatment of persistent allergic conjunctivitis.
“We are pleased to see that a CombinatoRx-derived combination drug
candidate has been recognized as a key asset in the proposed acquisition
of Fovea, our ophthalmic collaborator,” commented Robert Forrester,
Interim President and CEO of CombinatoRx. “This accomplishment
reinforces our business strategy of leveraging the CombinatoRx discovery
technology platform through strategic collaborations.”
About CombinatoRx
CombinatoRx, Incorporated (CRXX) is pioneering the new field of
synergistic combination pharmaceuticals. Going beyond traditional
combinations, CombinatoRx creates product candidates with novel
mechanisms of action, striking at the biological complexities of human
disease. The CombinatoRx proprietary drug discovery technology provides
a renewable and previously untapped source of novel drug candidates. The
Company was founded in 2000 and is located in Cambridge, Massachusetts.
To learn more about CombinatoRx, please visit www.combinatorx.com.
Forward-Looking Statement:
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
concerning CombinatoRx and Fovea, Fovea’s planned acquisition by Sanofi
Aventis, Fovea’s product candidate Prednisporin (FOV1101), and its
potential for FDA approval and the ability to generate future revenues
for CombinatoRx. These forward-looking statements about future
expectations, plans and prospects of CombinatoRx, Fovea and Prednisporin
(FOV1101) involve significant risks, uncertainties and assumptions,
including risks related to closing of the acquisition of Fovea by Sanofi
Aventis, the ability of Fovea or Sanofi Aventis to initiate and
successfully complete clinical trials of Prednisporin and to obtain
regulatory approval for the sale and marketing of its Prednisporin
product candidate and those other risks that can be found in the "Risk
Factors" section of the CombinatoRx Annual Report on Form 10-K on file
with the Securities and Exchange Commission and the other reports that
CombinatoRx periodically files with the Securities and Exchange
Commission. Actual results may differ materially from those CombinatoRx
contemplated by these forward-looking statements. These forward looking
statements reflect management’s current views and CombinatoRx does not
undertake to update any of these forward-looking statements to reflect a
change in its views or events or circumstances that occur after the date
of this release.
(c) 2009 CombinatoRx, Incorporated. All rights reserved.
Source: CombinatoRx, Incorporated
CombinatoRx, Incorporated
Robert Forrester, 617-301-7100
Interim
President and CEO
rforrester@combinatorx.com
or
Gina
Nugent, 857-753-6562
gnugent@combinatorx.com
