HUDDINGE, Sweden, April 30, 2004 (PRIMEZONE) -- In the fall of 1997 Karo Bio and Bristol-Myers Squibb (BMS) initiated a drug discovery collaboration with the aim to develop novel treatments for obesity and the metabolic syndrome. The collaboration has focused on compounds that target the thyroid hormone receptors. The program has succeeded in discovering selective compounds with desirable effects in animal models that lacked the undesirable cardiac side-effects that occur with the use of the natural hormone. These pioneering results were communicated recently in an important publication in the Proceedings of The National Academy of Sciences USA (P.N.A.S.). The discovery phase of the joint program was completed in March 2003. Since then BMS has been free to evaluate compounds from the collaboration as potential clinical candidates. Based upon internal decisions, BMS has now returned their lead compound rights to Karo Bio and discontinued internal activities on this target.
Dr. Bjorn O. Nilsson, President & CEO of Karo Bio, said "The concept of treating metabolic disorders through thyroid hormone receptor agonists has been significantly strengthened through the BMS collaboration. Based upon this and recent input from our scientific advisors, we are now focusing our pre-clinical discovery activities on novel promising second generation compounds in the metabolic disease area."
Facts about Karo Bio
Karo Bio has operations in Huddinge, Sweden. The Company has 95 employees.
Karo Bio has been listed on the Stockholm stock exchange (Reuters: KARO.ST) since 1998 and maintains a leading position in the field of drug discovery focused on nuclear receptors. Nuclear receptors are validated drug targets for a number of clinical indications and the Company uses proprietary technologies for the development of novel and improved therapies for major markets.
Karo Bio has drug discovery programs in several therapeutic areas including women's health care, cancer, cardiovascular disease and diabetes.
Karo Bio collaborates with major pharmaceutical companies for the development of products and marketing. In these collaborations Karo Bio receives upfront payments, R&D funding and milestone payments, as well as royalties on net sales when products reach the market.
Karo Bio has strategic pharmaceutical drug discovery collaborations with Merck & Co., Inc. and Wyeth Pharmaceuticals.
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