Merrion Pharmaceuticals Retains Sage Group to Augment Strategic Alliance Efforts
Dublin, Ireland, 2nd February 2009: Merrion Pharmaceuticals (IEX:MERR), an international specialty pharmaceutical company, today announced that it has retained The Sage Group to establish commercialisation partnerships for its Osteoporosis product, Almerol™. Almerol™ utilises Merrion’s unique GIPET® technology to create a new and improved form of alendronate (marketed as Fosamax®, Merck & Co. Inc.), a product indicated for the prevention and treatment of Osteoporosis. Almerol™ offers the potential of a significantly reduced drug load, simplified nighttime dosing and safety benefits over existing alendronate products. In November 2008, Merrion was awarded the Frost & Sullivan 2008 Osteoporosis Technology Innovation of the Year Award for its Almerol™ product.
Commenting on the alliance, John Lynch, CEO of Merrion Pharmaceuticals said “given our significant business development activity, demonstrated by two recent licensing deals with Novo Nordisk, we are pleased to augment our own efforts with the experienced business development team at Sage. We are confident that their breadth of industry knowledge and high level contacts will accelerate our efforts to license Almerol™, which offers very significant new patient and physician benefits”.
"Merrion has some very promising new products in clinical development, as well as high potential partnered programmes. The GIPET® technology allows Merrion to meet critical unmet medical needs, in areas such as Osteoporosis, where current therapies are not ideal," said Charles J. Casamento, Executive Director of the The Sage Group. "We are pleased to be assisting Merrion with this important strategic project."
ENDS
NOTES TO EDITORS:
Almerol™ is an oral form of alendronate combining sodium alendronate, the “gold standard” of Osteoporosis treatment and Merrion’s proprietary GIPET® technology. Almerol™ provides a 12 fold increase in bioavailability, more favourable site of drug release and simplified dosing regimen over existing alendronate products to address the key issue of patient non-compliance.
Osteoporosis, a skeletal disorder characterised by weakened bones leading to an increased risk of fracture, is a major cause of disability and death. There are almost 100 million osteoporosis patients in the seven major markets. Thirty three percent of women and 20% of men over the age of 50 will experience a fracture at the hip, spine or wrist in their lifetime. The current osteoporosis market is $7.3bn and expected to reach $11.1bn by 2016. Bisphosphonates, of which alendronate is the largest selling molecule, are the most commonly prescribed class of drugs for the prevention and treatment of osteoporosis. The bisphosphonate market accounted for 53% of sales in 2008 and is growing rapidly. However, poor adherence to therapy is a key market dynamic. Sixty percent of patients taking weekly bisphosphonates discontinue therapy within the first year, primarily due to difficulty in complying with the morning dosing ritual. The morning dosing regimen and the fasting requirement are due to the potentially severe gastro-intestinal side effects caused by bisphosphonates, like Fosamax.
About Sage Group, Inc.
Sage is a senior-level health care, technology oriented, strategy and transaction advisory firm formed in 1994. The principals of Sage are seven highly experienced healthcare executives, each of whom has substantial strategic, analytical, and hands-on operating experience as well as extensive backgrounds in licensing (in and out), corporate partnering, and M&A. In addition, Sage's Advisors and Senior Directors have extensive knowledge in the clinical, regulatory and product development disciplines. Sage’s principals have played key leadership roles as founders/CEOs in a number of emerging biomedical companies and senior executives in multinational corporations. They have also played key consulting roles in corporate partnering/acquisition and licensing strategies of emerging and mid-sized companies. Since 1994, Sage has advised on well over $1 Billion worth of M&A and licensing transactions for various pharmaceutical and biotechnology companies. For further information on The Sage Group, please visit their website located at www.sagehealthcare.com. Interested parties may contact Charles Casamento at 707-282-9044 or (415) 350-9916.
About Merrion:
Merrion Pharmaceuticals (www.merrionpharma.com) is a publicly listed specialty pharmaceutical company engaged in the development of oral forms (tablets/capsules) of drugs that have poor absorption and are generally given by injection. Merrion was established in 2004 to commercialise various technologies acquired from Elan Corporation, plc. Merrion's patented drug delivery technologies increase bioavailability, by improving absorption in the gastrointestinal tract, of drugs that are otherwise poorly absorbed. This can provide substantial benefit in patient convenience and safety, and might also provide enhanced drug efficacy. Merrion utilises its technology to develop new oral drugs in two ways; it develops its own proprietary drugs using GIPET® and partners with other pharmaceutical companies in developing oral GIPET® formulations of their products.
Merrion currently has four internal product development programs based on its GIPET® technology.
- Orazol (MER 101) is an oral bisphosphonate for oncology indications currently in Phase II development. This product aims to allow cancer patients with bone metastases take a weekly tablet to get the gold standard treatment in this area, rather than an IV infusion.
- Almerol (MER 103) which is also an oral bisphosphonate, for the treatment of osteoporosis, has completed Phase II clinical trials. Based on the market leading drug, this programme aims to provide similar absorption in just 8% of the current dose, with a simplified dosing regimen and an improved side effect profile.
- Acyline (MER 104) is a second oral oncology product for the treatment of prostate cancer, which is in Phase I clinical testing. This programme aims to be the first oral product in the area of GnRH analogues. Products in this class also have several other male/female health indications.
- MER 102 an oral anticoagulant is in preclinical testing. This programme aims to be the first oral product in LMWH class of drugs, and to offer patients the alternative to daily injections.
Merrion has agreements with several pharmaceutical companies.
- On January 16, 2009 Merrion announced the execution of an agreement with Novo Nordisk, a world leader in Diabetes, to develop and commercialize oral forms of Novo Nordisk proprietary GLP-1 receptor agonist using Merrion’s proprietary GIPET technology. This was the second license agreement between Merrion and Novo Nordisk, which have combined milestones of$116 Million for the first product developed which reaches the market, as well as development fees and royalties on sales.
Merrion has operations in Dublin, Ireland and Wilmington, NC, USA.
For Further Information, Contact:
Merrion Pharmaceuticals, plc.
Young Communications
Wally Young
+353 (0)1 668-0530
+353 (0)8 7247-1520
The Sage Group Inc:
Charles (“Chuck”) Casamento, 707-282-9044 or (415) 350-9916
Wayne Pambianchi, (908) 231-9644
Dr. Bill Mason, (908) 231-9644
R. Douglas Hulse, (908) 231-9644
Gordon V. Ramseier, (908) 231-9644
Daniel Tripodi, Ph.D., (908) 231-9644
Yoshihiro Mizuta, (908) 231-9644
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