H. Lundbeck A/S and Neurim Pharmaceuticals Ltd. today announced that
Lundbeck has in-licensed the exclusive rights for Circadin® for the
treatment of primary insomnia for the majority of markets in Europe
including the five major markets. Furthermore, Lundbeck holds the
exclusive option to evaluate commercialization in markets outside of
Europe.
Circadin®, a novel sleep aid, was approved by the European Commission
29 June 2007 indicated as monotherapy for the short-term treatment of
primary insomnia characterized by poor quality of sleep in patients
who are aged 55 or over. The approval was based on clinical studies
showing positive effects on both sleep induction, sleep quality, and
most importantly, day-time-functioning as well as quality of life.
The trials also show that there are no signs of development of
dependency. Lundbeck expects to launch Circadin® in the first markets
during 2008.
Under the terms of the agreement Neurim receives an upfront payment
and a share of revenue. Neurim is responsible for manufacturing."We are delighted to have licensed Circadin® to a company with a
strong track record within the research, development, marketing and
sales of medicines for the treatment of central nervous system
disorders", says Prof. Nava Zisapel, CSO of Neurim Pharmaceuticals."We are confident that with Lundbeck as our partner we will be able
to realize the full potential of Circadin® to the benefit of
patients.""Circadin® has shown to be a unique treatment of poor sleep with a
new mechanism different from all other approved medicines. Circadin®
mimics the physiological profile of the body's own melatonin
secretion and will be a very valuable alternative to traditional
sedative hypnotics, which share a number of drawbacks, such as
dependency and residual drowsiness" says Executive Vice President
Stig Løkke Pedersen, head of Commercial Operations.
About Circadin®
Circadin® is the first and only IP-protected prolonged-release,
melatonin containing ethical drug approved in the EU. Melatonin is a
naturally occurring hormone produced by the pineal gland; it has a
pivotal role in the regulation of circadian rhythms and sleep.
Endogenous melatonin levels decrease with age and may contribute to
the common complaint of poor sleep quality seen amongst those in
middle age and in the elderly. Administration of Circadin®, which
essentially mimics the normal nocturnal melatonin profile, improves
sleep quality and morning alertness and facilitates sleep onset in
patients aged 55 or over.
The content of this release will have no influence on the Lundbeck
Group's financial result for 2007.
Neurim contact
Dr. Francesca Stingele
Managing Director
Tel: +41 21 641 1580
Lundbeck contacts
Investors: Media:
Jacob Tolstrup Caroline Broge
Director, Investor Relations Media Relations Manager
+45 36 43 30 79 +45 36 43 26 38
+1 201 350 0187
________________________
Stock Exchange Release No 295 - 24 September 2007
About Neurim
Neurim Pharmaceuticals Ltd. (1991), headquartered in Israel with a
business development unit in Switzerland, is a drug discovery and
development company founded in 1991. Neurim is focused on age-related
disorders, primarily in the central nervous system (CNS). The main
goal is to improve the quality of life in the older patient
population. Circadin® is the company's first product reaching
marketing approval. Other products are at various stages of
preclinical and clinical development. For further information, please
visit www.neurim.com
About Lundbeck
H. Lundbeck A/S is an international pharmaceutical company engaged in
the research and development, production, marketing and sale of drugs
for the treatment of psychiatric and neurological disorders. In 2006,
the company's revenue was DKK 9.2 billion (approximately EUR 1.2
billion or USD 1.6 billion). The number of employees is approximately
5,300 globally. For further information, please visit
www.lundbeck.com
Lundbeck in-licenses Circadin®, a drug approved for the treatment of primary insomnia from Neurim Pharmaceuticals
| Source: H. Lundbeck A/S
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