Uppsala, Sweden – August 6, 2014 – Orexo AB (publ) announces today that
Boehringer Ingelheim has decided to return the OX-MPI project to Orexo. The
project aims to develop products based on specific inhibition of prostaglandin
E2 (PGE2) in different disease conditions. Boehringer Ingelheim has since 2005
been responsible for all research and development within the OX-MPI project.
Orexo is evaluating the results from Boehringer Ingelheim and when this is
completed will make a final decision on the potential to continue the project
with a new external partner. The return of OX-MPI from Boehringer Ingelheim has
no direct impact on the financial position of Orexo. The OX‑MPI project is
associated with an intangible fixed asset of MSEK 62 from the acquisition of
Biolipox and this asset will be impaired if a final decision is taken to
discontinue the project.
For further information, please contact:
Nikolaj Sorensen, President and CEO
Tel: +46 (0)703-50 78 88, E-mail: email@example.com
About Orexo AB
Orexo is a specialty pharma company with commercial operations in the United
States and R&D in Sweden developing improved treatments using proprietary drug
delivery technology and commercial operations in the United States. The company
is commercializing its proprietary product, ZUBSOLV® sublingual tablets, for
maintenance treatment of opioid dependence, in the United States. The ZUBSOLV®
sublingual tablet is a novel formulation of buprenorphine and naloxone using
Orexo’s extensive knowledge in sublingual technologies. Orexo has a portfolio of
two approved and revenue generating products currently marketed under license in
the US, EU and Japan. Orexo AB, with its headquarters in Sweden, is listed on
NASDAQ OMX Stockholm Exchange and its American Depositary Receipts (ADRs) trade
on the OTCQX marketplace in the U.S. under the symbol, “ORXOY”. The largest
shareholders are Novo A/S and HealthCap.
For information about Orexo, please visit www.orexo.com.
Orexo AB (publ) discloses the information provided herein pursuant to the
Financial Instruments Trading Act and/or the Securities Markets Act. The
information was submitted for publication at 08:30 am CET on August 6, 2014.
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