WELLESLEY HILLS, Mass., Oct. 19, 2011 (ANTARA/PRNewswire-AsiaNet) --
S1P1 LEAD COMPOUNDS, AMG 369 AND AMG 277, WILL BE OFFERED FOR SALE AT A DECEMBER 8, 2011 SEALED BID SALE
Joseph F. Finn, Jr., C.P.A. ("Finn") Assignee for the Benefit of Creditors of Epix Pharmaceuticals, Inc. ("Epix") announced today that the S1P1 lead compounds, AMG 369 and AMG 277, will be offered December 8, 2011 in a sealed bid sale. S1P1 agonists are currently indicated for treatment of multiple sclerosis ("MS").
MS is the second most common cause of disability in young adults (after trauma) and affects approximately 350,000 - 450,000 people in the US and 1-2 million people worldwide. The major unmet need in MS is agents with better safety and efficacy, especially in terms of halting the progression of disease and preventing or slowing disability. Until recently, treatment for MS was generally directed in three areas; 1) reduction of acute exacerbations, 2) reduction of relapses/disability progression, or 3) symptomatic relief. All of these first or second line therapies required injection or infusion, including the number one selling MS drug, Copaxone, which had sales of $2.6 Bil in 2010 and will face generic competition in 2014. Worldwide sales for all MS drugs were $11.5 Bil in 2010 and expected to grow at a CAGR of 6% to almost $19 Bil by 2016.
Information above per EvaluatePharma(R), Available WW Sales for Autoimmune Disorders and Multiple Sclerosis, Aug. 4, 2011.
Assets included in the sale include preclinical and toxicology data related to AMG 277, AMG 369 and six backup compounds, existing inventory of these compounds (API), and related patent portfolio.
Persons interested in bidding must sign a Confidentiality Disclosure Agreement ("CDA") obtained from Finn's office - jffinnjr@finnwarnkegayton.com or +1-781-237-8840; upon receipt of the executed CDA, applicants will receive a bid package, to be completed and returned by December 8, 2011.
About Joseph F. Finn, Jr., C.P.A.
Joseph F. Finn, Jr., C.P.A. is the founding partner of the firm, Finn, Warnke & Gayton, Certified Public Accountants of Wellesley Hills, Massachusetts. He works primarily in the area of management consulting for distressed enterprises, bankruptcy accounting and related matters, such as assignee for the benefit of creditors and liquidating agent for a corporation. His most recent Assignments for the Benefit of Creditors in the biotech filed include Spherics, Inc., ActivBiotics, Inc., Prospect Therapeutics, Inc. and Source MDx.
For further information, please contact Joseph F. Finn, Jr., C.P.A. at +1-781-237-8840 or jffinnjr@finnwarnkegayton.com
SOURCE: Joseph F. Finn, Jr., C.P.A.
Editor: PR Wire
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