Orphan
diseases
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DUBLIN, Ireland, 27th July, 2011
AGI announces divestment of patent portfolio to Warner Chilcott
DUBLIN, Ireland, 27th July, 2011 – AGI Therapeutics, plc ("AGI" or the "Company"), a specialty pharmaceutical company, today announced that it has completed the divestment of a portfolio of patents to Warner Chilcott plc for a consideration of approximately $0.3 million. These patents relate to an early-stage product which had been in development for gastrointestinal disorders, but had been discontinued as a result of AGI re-focusing its business to develop specialty drug products for unmet medical needs, including Orphan indications.
Commenting on the divestment, Dr. John Devane, CEO of AGI, said:
“This divestment reflects our ongoing interest in monetizing dormant assets which are no longer core to our business, and thus provide additional resources to invest in high-value specialty product opportunities such as AGI-350.”
Contact Information:
AGI Therapeutics plc. Tel: +353 1 449 3254
David Kelly, Chief Financial Officer
Davy
John Frain Tel: +353 1 614 8761
Notes to Editors:
About AGI Therapeutics plc
AGI is a specialty pharmaceutical company which is focused on the development and commercialisation of differentiated specialty drug products to treat unmet medical needs, including treatments for conditions which qualify for Orphan drug status.
The Company’s lead programme, AGI-350, is being developed to treat a significant unmet medical need in the critical care setting, in particular for patients who require ventilation support.
AGI’s common shares are listed on the Alternative Investment Market of the London Stock Exchange (AIM) and on the Enterprise Securities Market (ESM) of the Irish Stock Exchange as AGI.
For further information please see www.agitherapeutics.com