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Latest From Cerep SA
Cerep has licensed an LFA-1 receptor antagonist with potential for treating eye disease to Théa for an undisclosed sum. Last year the two firms identified a new topical indication for the antagonist in ophthalmology which greatly reduces the risk of hepatotoxic effects. Bristol-Myers Squibb and Cerep stopped the original development programme in systemic immuno-inflammatory diseases after discovering hepatotoxic effects following oral administration. The licence agreement triggers a first payment to Cerep, followed by milestones and royalties once the drug reaches the market. Cerep will receive the first milestone after successful proof-of-concept, which will be started shortly. Thierry Jean, Cerep'spresident and CEO, said the new indication should reduce side-effects as it would most likely require a reduced dosage. LFA-1 is a key adhesion receptor in immune and inflammatory processes and acts as a signal-transducing molecule.
Cerep has received an undisclosed milestone payment from Sanofi-Aventis for an antidiabetes drug that the two firms co-discovered in 1998. The NPY1 receptor antagonist is in preclinical development for type 2 diabetes. Cerep transferred the drug to Sanofi-Aventis in 2006 and Sanofi-Aventis will reimburse certain expenses that Cerep incurs under a licence agreement signed by the two firms. Cerep is also eligible for royalties on sales once the drug reaches the market. The company had revenues of €7.4 million in the third quarter, up by 3%. It expects to have cash and cash equivalents of more than €22 million by the end of the year. The company's cash flow is mainly allocated to debt repayment.
Sales revenues at the French pharmaceutical services firm Cerep were flat during the first half of the year, totalling €14.2 million compared with €14.98 million in the first half of 2007, although at constant exchange rates revenues would have increased by 3.5% to €15.5 million. In vitro ADME activities at its US subsidiary showed a 44.8% increase, while revenues from pharmacological profiling dropped by 5.6% at constant exchange rates. The financial results were affected by budgetary restrictions at some pharmaceutical companies, and by delays in the start of some multiyear collaboration contracts, Cerep says. Consolidated EBITDA from continuing activities was €0.49 million compared with €1.48 million in the previous six-month period. In April, Cerep entered a supply and co-marketing agreement with Perkin Elmer on target screening and profiling services, and in May it opened an additional 10,200 ft2 of laboratories and offices in Redmond, Washington.
ADMETRx is building new and improved ADME tools. The technology, a mix of wet lab analysis and computer modeling, attempts to move beyond the go/no go decisions typical of ADME.Instead the company offers clients a ranking of a drugs being tested based on the individual properties being tested.
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