Coley Pharmaceutical Group Receives Milestone Payment From Aventis Pharma
Coley Pharmaceutical Group, Inc. announced that it had received a milestone payment from Aventis Pharma in connection with the development of CpG 7279. CpG 7279 is exclusively licensed to Aventis for asthma and allergic rhinitis applications. CpG 7279 is on track to enter clinical trials for the treatment of asthma.
CpG 7279 is part of a development agreement between Coley and Aventis Pharma that was signed in August 2001. The financial details of the milestone payment were not disclosed.
"Aventis is an outstanding partner. We are very pleased that this oligo has moved so rapidly through a rigorous selection and development process in preparation for the clinical trial evaluation of CpG 7279," said Robert L. Bratzler, Ph.D., Coley President and Chief Executive Officer. "Collaborations with additional partners will be sought in conjunction with our other drug candidates, CpG 7909 for the treatment of cancers, CpG 10101 for treatment of Hepatitis C, and CpG 10103 as an immunostimulant in infectious disease vaccines. Through such partnerships, we plan to participate in the development of our pipeline drug candidates across the full range of their therapeutic potential."
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