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DeveloGen
receives R&D Funds for diabetic Complications Project
Goettingen, November 9,
2004 – DeveloGen AG receives approval for funding from the BioChancePLUS
Programme of the Federal Ministry of Education and Research (BMBF) for
developing a project in the field of diabetic complications.
In the western world, about 6% of the population suffer from diabetes, with
diabetic retinopathy (an important diabetic complication) being the main reason
for adult blindness. In Germany alone, more than 6,000 diabetic patients go
blind each year, with no medical treatment currently available. DeveloGen is
developing Somatoprim™, a novel somatostatin analogue indicated for the
treatment of diabetic retinopathy. The BMBF has now approved Somatoprim™ for the
BioChancePLUS Programme with a total project volume of about 4 Mio EUR.
Although somatostatin analogues have been useful for various indications, none
has been approved for the treatment of diabetic complications possibly due to
their effect on the secretion of glucagon and insulin. Somatoprim™ was chosen
for its’ ability to selectively inhibit the secretion of certain hormones which
negatively influence diabetic complications without suppressing insulin and
glucagon secretion.
In pre-clinical models, Somatoprim™ has demonstrated initial efficacy in
diabetic retinopathy without the negative side effects of inhibiting insulin or
glucagon secretion. The grant from the BMBF will fund further development of
Somatoprim™ in close cooperation with academic partners, such as the German
Diabetes Center (DDZ).
Dr. Guenther Karmann, CEO DeveloGen AG, comments: “This BMBF grant will allow
DeveloGen to develop Somatoprim™ as a novel therapy against diabetic
complications. Backed by this funding, we expect Somatoprim™ to enter clinical
development within 18 months.”
Prof. Stephan Martin, DDZ, adds: “This grant links academic research with
industrial development. For the DDZ, Somatoprim™ is a highly interesting product
in the field of diabetic drug development. We are looking forward to future
cooperation with DeveloGen.”
About BioChancePLUS
Initiated in 2004, the intention of this support programme is to link
scientific, technical and financial strengths and resources of the joining
companies to promote the process of innovation with a focus on product
development. Grant applications are evaluated by their scientific-technical
qualities, scientific novelties and the prospects of commercialisation.
BioChancePLUS focuses its supports on newly founded and young innovative Biotech
Companies collaborating with academic research facilities and universities. For
more information, please visit:
www.bmbf.de/foerderungen/2261.php
About DeveloGen AG
DeveloGen is a biology driven drug discovery company developing novel
therapies for metabolic diseases, such as diabetes and obesity. For the
treatment of type 1 diabetes, DiaPep277TM acts to protect the insulin producing
beta cells from autoimmune destruction. DiaPep277TM is currently in late stage
phase 2 clinical testing. The Pax4 program aims to help the body to regenerate
its own beta cells. To discover novel treatments for type 2 diabetes and
obesity, DeveloGen has identified a number of highly validated novel targets,
which are currently in advanced stages of drug discovery. Diabetic complications
are the third area of focus within metabolic diseases. DeveloGen started
operations in 1998 in Goettingen, Germany, and merged with Peptor, Israel, in
2004. For more information, please visit:
www.develogen.com
Contact:
DeveloGen AG Kathrin Shem-Tov
Rudolf-Wissell-Str. 28 Manager Corporate Affairs
37079 Göttingen Tel: +49 551 50558 0
Germany Fax: +49 551 50558 586
E-mail: info@develogen.com
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