Return of Rights to Infinity

RNS Number : 9540J

AstraZeneca PLC

11 December 2008

 



ASTRAZENECA RETURNS WORLDWIDE RIGHTS TO IPI-504 AND IPI-493 DEVELOPMENT PROGRAMS TO INFINITY PHARMACEUTICALS

AstraZeneca today announced that it has returned worldwide rights to Infinity Pharmaceuticals for the development and commercialisation of Infinity's heat shock protein 90 (Hsp90) drug candidates IPI-504 (MEDI-561) and IPI-493, in development for the treatment of cancer and related conditions.

The collaboration, initiated in August 2006 between MedImmune and Infinity, was transferred to AstraZeneca following its acquisition of MedImmune in June 2007. 

After reviewing the potential opportunity for these projects within its portfolio and considering competing R&D investment priorities, AstraZeneca has decided to return the responsibility for development and commercialisation of this program to Infinity.

Infinity is fully committed to targeting Hsp90 as a potential new treatment approach to cancer, and to developing both IPI-504 and IPI-493. In particular, Infinity initiated a late stage trial of IPI-504 in patients with refractory gastrointestinal stromal tumors (GIST), a rare tumor of the gastrointestinal tract. IPI-504 and IPI-493 are in additional late- and early-stage ongoing clinical trials. 

About AstraZeneca

AstraZeneca is a major international healthcare business engaged in research, development, manufacturing and marketing of prescription pharmaceuticals and supplier for healthcare services. AstraZeneca is one of the world's leading pharmaceutical companies with healthcare sales of US $29.55 billion and is a leader in gastrointestinal, cardiovascular, neuroscience, respiratory, oncology and infection product sales. AstraZeneca is listed in the Dow Jones Sustainability Index (Global) as well as the FTSE4Good Index.  For more information visit www.astrazeneca.com

Media Enquiries:
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Investor Enquiries UK:
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Mina Blair	[phone]	mob: [phone]
Karl Hard	[phone]	mob: [phone]
Investor Enquiries US:
Ed Seage	[phone]	mob: [phone]
Jorgen Winroth	[phone]	mob: [phone]
Peter Vozzo (MedImmune)	[phone]	mob: [phone]

11 December 2008

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