June 4 | 2012
SAVIRA SIGNS COLLABORATION AND LICENSE AGREEMENT WITH ROCHE
Vienna, 4 June 2012 – Savira pharmaceuticals GmbH today announced a partnership with Roche (SIX: RO, ROG; OTCQX: RHHBY) to develop small molecule polymerase inhibitors for the treatment of influenza virus infections. Under the terms of the agreement, Roche will be granted an exclusive, worldwide license on Savira’s cap-snatching inhibitor program. In return, Savira will receive milestone payments that could total EUR 240 million. In addition, Savira will receive upfront payments, research and development support, and royalties on product sales.
“We are pleased that our efforts in developing innovative drugs for the treatment of influenza are now resulting in a collaboration and license agreement with Roche,” says Oliver Szolar, Savira’s CEO. “I am very excited to see our already existing fruitful research collaboration with the Virology Discovery group at Roche in Nutley, NJ, being considerably extended and fuelled with substantial resources.”
“Influenza polymerase is a very promising target for the treatment of flu,” says Klaus Klumpp, Vice-President and Global Head of Virology Discovery at Roche Nutley. “Limitations of and emerging resistance to existing anti-viral drugs have generated a high medical need for new drugs with novel modes of action, and we believe that our collaboration will strongly contribute to addressing these needs.”.
Savira pharmaceuticals GmbH – based in Vienna, Austria – is focusing on the design of novel, innovative influenza therapeutics using a rational, structure-based drug development approach. Savira follows the biotech business model, turning capital and public grants into the preclinical and clinical development of a portfolio of anti-influenza drug candidates. Savira thus strives to create a sustainable pipeline, generate value for shareholders, improve quality of life for people suffering from influenza, and add to the arsenal of antivirals thus improving influenza pandemic preparedness.
Savira pharmaceuticals GmbH
Oliver Szolar, CEO
Phone: +43 1 25077 5904
Fax: +43 1 25077 5999
Klick to download PDF: 20120604 Savira – Press release.pdf