STOCKHOLM, Sweden, Jan. 18, 2002 (PRIMEZONE) -- In order to free resources to be used for acquisitions of research companies and in licensing of projects in the clinical phase, Tripep has adopted a new business plan.
"Following the negative outcome of our phase II studies of GPG, we have formulated a new plan," comments Hans Moller, President and CEO of Tripep.
"We see a new Tripep with three main pillars: the GPG project, which we intend to move forward with during the spring in a renewed phase I study, a highly interesting and focused preclinical portfolio, and acquisitions of research companies. Everything is now in place except for the acquisitions, which we are currently working very actively on. These primarily concern pharmaceutical projects in the clinical phase that are significant for Tripep, which we are now carefully analyzing and evaluating."
"I am pleased that we have been able to take the necessary measures so promptly after our last setback, even though these have entailed very painful staff reductions."
Projects being discontinued
As a consequence of Tripep's new business plan, the PVC/PCV project, which has been conducted in collaboration with Swedish Orphan, will be discontinued.
In the PPI/Hepatitis C and TNF-alpha research projects, the current research programs will be concluded during the first quarter of 2002 and thereafter evaluated.
The decision has also been made to sell the company's organic chemistry laboratory to an independent company, which will also take over the affected employees. Further, the company's own biosafety laboratory will be closed.
All of these measures entail cost savings which will create resources for acquisitions of projects in the clinical phase.
Brief data
GPG
A new plan has been adopted for the clinical development of GPG(r). A new phase I study, aimed at ascertaining the best administration form for GPG(r) , will be started during the spring. Contingent upon the favorable outcome of this study, the start of phase II clinical studies under own management is planned.
Preclinical portfolio
Vaccines
For ChronVac-C(tm), the therapeutic hepatitis C vaccine, the goal is to enter into an industrial collaboration agreement with a partner that has a relevant carrier technology. Other vaccines - a prophylactic hepatitis C vaccine and the development of a therapeutic and prophylactic vaccine for HIV-1 - are being developed in collaboration with the Vaccine Research Institute of San Diego. Staphylococcus Aureus RAS technology entails a new method of combating resistant staphylococci, the underlying cause of nosocomial (hospital acquired) infections. A number of interesting substances have been identified, and proof-of-concept studies on mice will be conducted in the near future.
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