HUDDINGE, Sweden, Dec. 27, 2004 (PRIMEZONE) -- Medivir AB announced today that GlaxoSmithKline (GSK) has terminated the research agreement for the developmental HIV compound MIV-210, as the compound doesn't satisfy GSK's desired profile. Based on preclinical data, provided by Medivir and GSK, including the resistance profiling of MIV-210, Medivir has decided to focus the further development of MIV-210 into drug experienced patients.
Medivir will initiate a phase IIa study in HIV drug experienced patients. It is expected that the trial will commence during 2005, at an estimated cost of less than 1 MUSD. The results from this trial should determine the effectiveness of MIV-210 in the treatment of drug experienced HIV patients, which represent a rapidly growing and disadvantaged segment of the HIV market.
"We have been very pleased with GSK as a partner for MIV-210. GSK's committed work has added key information and value to the project. Based on the currently available compound- and market data, Medivir has decided to continue the clinical development of MIV-210 at full speed, towards new commercial possibilities," says Medivir's CEO Lars Adlersson.
For further information please contact: Rein Piir CFO / IR Office: +46 8 546 831 23 or Mobile: +46 708 53 72 92
For additional information, please see Medivir's website www.medivir.com
The Medivir Group
Medivir is an innovative, specialist research corporation that develops drugs with the objective of becoming a sustainable and profitable pharmaceuticals corporation. Medivir is located in Huddinge, Sweden and near Cambridge, UK. Medivir's research is oriented on developing new drug compounds based on polymerases and proteases as target enzymes.
The group consists of Medivir AB, its subsidiary Medivir UK Ltd. and Medivir Personal AB. As of 30 September 2004, the group had 125 employees. Medivir was listed on the Stockholm Exchange O-list in 1996.
Medivir's research portfolio includes projects against HIV, jaundice, shingles, cold sores, osteoporosis, rheumatoid arthritis, asthma and multiple sclerosis. Medivir has five projects in clinical development phases, each with a unique clinical profile. The company's broad-based preclinical research portfolio includes six defined projects and nearly ten activities in earlier research phases.
Medivir AB (publ), Lunastigen 7, SE-141 44 Huddinge, Sweden, tel (switchboard): +46 (0)8 546 83100
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