HUDDINGE, Sweden, April 16, 2002 (PRIMEZONE) -- Karo Bio has received a European patent for the LXR beta-receptor, which is a new important drug discovery target for treatment of Atherosclerosis.
The LXR receptor is a nuclear receptor that regulates important cell functions, like gene regulation, and thereby production of proteins of importance for cell and organ function. LXR beta can, for example, increase the production of certain proteins, which remove harmful cholesterol from blood vessels. The receptor is therefore in focus for development of new pharmaceuticals for treatment of cardiovascular diseases. This is the background of the partnership, which Karo Bio initiated with the international pharmaceutical company Wyeth Pharmaceuticals in September 2001. The companies will jointly collaborate for development of new pharmaceuticals for treatment of Atherosclerosis.
"The collaboration with Wyeth Pharmaceuticals has progressed very well," said Bjorn Nilsson, President of Karo Bio. "We have already, in several areas, laid a foundation for a successful project and with the most recent patent, we further establish our leading position."
Background
Karo Bio has operations in Sweden and the United States. The Company employs 135 people.
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 400 patent cases including 128 granted patents.
Karo Bio has drug discovery programs in several therapeutic areas including men and women's health care, metabolic disorders such as obesity, cardiovascular disease, diabetes, dermatology and ophthalmology.
Karo Bio collaborates with major pharmaceutical companies for development of products and marketing. In these partnerships Karo Bio receives upfront payments, R&D funding, milestone payments as well as royalties on net sales when products reach the market.
Karo Bio has strategic pharmaceutical drug discovery partnerships with Abbott Laboratories, Bristol-Myers Squibb, Merck & Co., Inc. and Wyeth Pharmaceuticals.
This information was brought to you by Waymaker http://www.waymaker.net