Drug Discovery and Developmen

RNS Number : 6725K

Hutchison China Meditech Limited

23 December 2008

 



Hutchison China MediTech Limited ('Chi-Med')

(AIM: HCM)

Hutchison MediPharma Limited Enters into Drug Discovery and Development Partnership With Ortho-McNeil-Janssen Pharmaceuticals, Inc.

London: Tuesday, 23 December 2008: Chi-Med, the pharmaceutical and healthcare group, today announces that its wholly-owned, Shanghai-based drug R&D subsidiary, Hutchison MediPharma Limited ('Hutchison MediPharma'), has entered into an agreement providing for a worldwide strategic alliance with Ortho-McNeil-Janssen Pharmaceuticals, Inc. ('OMJPI') to discover and develop novel small-molecule therapeutics against a target in the area of inflammation/immunology (the 'Agreement'). 

Under the Agreement, Hutchison MediPharma will continue its discovery activities against the target. In addition, unless OMJPI opts to do so, Hutchison MediPharma may conduct clinical development of drug compounds from the discovery programme through the demonstration of clinical proof-of-concept.  If at that time or earlier OMJPI opts to take over development, OMJPI will have exclusive rights to develop and commercialize drug compounds from Hutchison MediPharma's programme. 

Hutchison MediPharma will receive from OMJPI an up-front payment upon execution of the Agreement and milestone payments upon its achievement of specific development and approval events. In addition, Hutchison MediPharma will be entitled to royalties on OMJPI's worldwide sales of any products from the programme and to an option to co-promote the products in China, including Hong Kong and Macau.

Dr. Samantha Du, Chief Scientific Officer for Chi-Med and CEO of Hutchison MediPharma, commented: 'OMJPI is a prominent leader in developing and commercializing products that treat inflammation and we are excited to be working with them. We are excited that we have the opportunity to demonstrate to OMJPI the quality of our research in this field. In addition, this alliance provides important additional funding and the opportunity for OMJPI to contribute significant know-how in furtherance of the programme. We look forward to a long-term successful partnership with OMJPI to develop and deliver innovative drugs to meet important patient needs in the global market.'

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Enquiries

Chi-Med    Christian Hogg, CEO	Telephone: [phone]
Citigate Dewe Rogerson   Anthony Carlisle   David Dible	Telephone: [phone] [phone] [phone]

Notes to Editors

About Chi-Med

Chi-Med is the holding company of a pharmaceutical and healthcare group based primarily in China and was admitted to trading on the Alternative Investment Market of the London Stock Exchange in May 2006. It is focused on researching, developing, manufacturing, and selling pharmaceuticals, health supplements and other consumer health and personal care products derived from Traditional Chinese Medicine and botanical ingredients. 

Hutchison MediPharma in Shanghai, is Chi-Med's wholly-owned drug R&D subsidiary and has at its disposal a team of around 200 scientists and staff focusing on discovery and development of botanical drugs, semi-synthetic natural product drugs, and synthetic single chemical entity drugs.  Hutchison MediPharma has a pipeline of single new chemical entity discovery projects in both the auto-immune/inflammatory disease and oncology therapeutic areas. 

Chi-Med is majority owned by Hutchison Whampoa Limited, an international company listed on the Main Board of The Stock Exchange of Hong Kong Limited.

 

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