Ardea Biosciences Earns Milestone From Bayer HealthCare
30 Maggio 2012 - 2:30PM
Marketwired
Ardea Biosciences, Inc. (NASDAQ: RDEA) today announced that it has
earned a $7.5 million milestone from Bayer HealthCare (Bayer) under
the terms of their April 2009 global license agreement to develop
and commercialize Ardea's mitogen-activated ERK kinase (MEK)
inhibitor compounds for cancer and other indications. The milestone
was triggered by the initiation of the Phase 2 part of a previously
reported Phase 1/2 clinical study evaluating the investigational
agent BAY 86-9766 in combination with gemcitabine for the treatment
of advanced pancreatic cancer.
About BAY 86-9766 BAY 86-9766 (RDEA119) is
an investigational agent that is not approved by FDA, EMA, or other
health authority and is being developed under a global license
agreement with Bayer. BAY 86-9766 is currently in Phase 2 clinical
development in patients with hepatocellular carcinoma in
combination with sorafenib and in patients with advanced pancreatic
cancer in combination with gemcitabine.
About Ardea Ardea is a biotechnology
company based in San Diego, California, focused on the development
of small-molecule therapeutics for the treatment of serious
diseases. Ardea's most advanced clinical-stage product candidates
include lesinurad, formerly known as RDEA594, and BAY 86-9766,
formerly known as RDEA119. Lesinurad is a selective, oral URAT1
transporter inhibitor for the chronic management of hyperuricemia
in patients with gout, and BAY 86-9766 is a specific inhibitor of
mitogen-activated ERK kinase (MEK) for the treatment of cancer
which is being developed under a global license agreement with
Bayer HealthCare. On April 21, 2012, Ardea entered into an
agreement and plan of merger pursuant to which AstraZeneca PLC will
acquire Ardea for $32.00 per share in cash, through a reverse
merger of a subsidiary of AstraZeneca with and into Ardea. Upon
completion of the merger, Ardea will be a subsidiary of
AstraZeneca. The total transaction value is approximately $1.26
billion. Ardea expects the completion of the merger, which is
subject to various customary conditions, including approval by
Ardea's stock holders, in the second or third quarter of 2012. For
more information please visit: www.ardeabio.com
Forward-Looking Statements Statements
contained in this communication regarding matters that are not
historical facts are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
Because such statements are subject to risks and uncertainties,
actual results may differ materially from those expressed or
implied by such forward-looking statements. Such statements
include, but are not limited to, statements regarding the timing
and anticipated completion of the proposed merger, the benefits and
synergies expected to result from the proposed merger, the
anticipated customer base for Ardea following the completion of the
proposed merger, Ardea's plans and goals, the expected properties
and benefits of lesinurad, BAY 86-9766 (RDEA119), RDEA3170 and
Ardea's other compounds and the timing and results of Ardea's
preclinical, clinical and other studies, and other statements that
are not purely statements of historical fact. These forward-looking
statements are made on the basis of the current beliefs,
expectations and assumptions of the management of Ardea and are
subject to significant risks and uncertainty. Investors are
cautioned not to place undue reliance on any such forward-looking
statements. Risks that contribute to the uncertain nature of the
forward-looking statements include any difficulties associated with
integrating Ardea's drug development programs into AstraZeneca's
operations, potential adverse reactions or changes to business
relationships resulting from the announcement or completion of the
proposed merger, unexpected costs, charges or expenses resulting
from the proposed merger, litigation or adverse judgments relating
to the proposed merger, risks relating to the consummation of the
contemplated merger, including the risk that the required
stockholder approval might not be obtained in a timely manner or at
all or that other closing conditions will not be satisfied, any
difficulties associated with requests or directions from
governmental authorities resulting from their reviews of the
transaction, and any changes in general economic and/or
industry-specific conditions, risks related to the outcome of
preclinical and clinical studies, risks related to regulatory
approvals, delays in commencement of preclinical and clinical
studies, costs associated with Ardea's drug discovery and
development programs, and risks related to the outcome of Ardea's
business development activities, including collaboration or license
agreements. Certain of these and other risks and uncertainties are
described more fully in Ardea's most recently filed SEC documents,
including Ardea's Annual Report on Form 10-K and Ardea's Quarterly
Reports on Form 10-Q, under the headings "Risk Factors." All
forward-looking statements contained in this communication speak
only as of the date on which they were made. Ardea undertakes no
obligation to update such statements to reflect events that occur
or circumstances that exist after the date on which they were
made.
Additional Information and Where to Find
It In connection with the proposed merger described in this
communication (the "Merger"), a proxy statement of Ardea and other
materials will be filed with the SEC. COMPANY INVESTORS ARE URGED
TO READ THE PROXY STATEMENT AND OTHER MATERIALS CAREFULLY WHEN THEY
BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION
ABOUT ARDEA AND THE PROPOSED MERGER. Investors will be able to
obtain copies of the proxy statement (when available) and other
relevant documents filed with the SEC for free from the SEC's
website at http://www.sec.gov or from Ardea's website at
http://www.ardeabio.com. Stockholders will also be able to obtain
copies of the proxy statement and other documents related to the
Merger (when available) for free by written request to Ardea
Biosciences, Inc., c/o Corporate Secretary, 4939 Directors Place,
San Diego, California 92121.
Participants in Solicitation Ardea and its
directors, executive officers and other members of its management
and employees may be deemed to be participants in the solicitation
of proxies from its stockholders in connection with the proposed
Merger. Information about the executive officers and directors of
Ardea and their ownership of Ardea's common stock is set forth in
the proxy statement for Ardea's 2012 Annual Meeting of Stockholders
filed with the SEC on April 10, 2012. Certain directors and
executive officers of Ardea may have direct or indirect interests
in the Merger due to securities holdings, pre-existing or future
indemnification arrangements, vesting of options or other
securities or rights to severance payments if their employment is
terminated following the Merger. Additional information regarding
Ardea and the interests of its executive officers and directors in
the Merger will be contained in the proxy statement regarding the
Merger that will be filed by Ardea with the SEC.
Contact: John Beck Ardea Biosciences, Inc. (858)
652-6523 Email Contact
Grafico Azioni Ardea Biosciences, Inc. (MM) (NASDAQ:RDEA)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Ardea Biosciences, Inc. (MM) (NASDAQ:RDEA)
Storico
Da Giu 2023 a Giu 2024