PharmaIN and Shionogi Announce Collaboration and $17M Securities Purchase Agreements
Bothell, WA & Osaka, Japan – (January 4th, 2018) – PharmaIN Corporation and Shionogi & Co., LTD announced today that they entered into a Collaboration Agreement with an exclusive two-year Option to negotiate a License for the collaboration product.
Shionogi Corp. will make an equity investment of up to $17M USD in PharmaIN in three tranches.
“We’ve enjoyed working with Shionogi since initial proof of concepts and are excited to expand our collaboration to advance novel, first in class therapy to benefit many millions of patients. As a major research-driven pharmaceutical company Shionogi brings valuable experience, resources and innovation to our partnership,” said Elijah Bolotin, PhD, President and CEO of PharmaIN Corp.
” Shionogi is very pleased to start this collaboration with PharmaIN, which has innovative platform technologies for drug discovery of various molecules including peptides, proteins and small molecules. We look forward to this collaboration that will surely bring us the great opportunity to provide many patients with innovative medicines,” said Takeshi Shiota, PhD, Corporate Officer, Senior Vice President, Pharmaceutical Research Division.
About PharmaIN: PharmaIN Corporation, headquartered in Bothell, WA, (near Seattle) is developing superior drug therapies by using its “Protected Graft Co-polymer” (PGC™) excipient and innovative peptide engineering technologies to enable effective and safe injectable peptide therapeutics. Besides peptides, PGC excipient can be beneficial to improve PK, bioavailability, stability and solubility of numerous proteins and some poorly soluble potent small molecules. PharmaIN works with partner companies to enable new, value-added drug therapies and improve “old” drugs using these platforms. Visit www.pharmain.com.
About Shionogi & Co., Ltd.:
Shionogi &Co., Ltd. is a major research-driven pharmaceutical company dedicated to bringing benefits to patients based on its corporate philosophy of “supplying the best possible medicine to protect the health and wellbeing of the patients we serve.” Shionogi’s research and development currently targets two therapeutic areas: infectious diseases, and pain/CNS disorders. For over 50 years, Shionogi has developed and commercialized innovative oral and parenteral anti-infectives. In addition, Shionogi is engaged in new research areas, such as obesity/geriatric metabolic diseases and oncology/immunology. Contributing to the health and QOL of patients around the world through development in these therapeutic areas is Shionogi’s primary goal. For more details, please visit www.shionogi.co.jp/en/.