Telegram included in register of Internet information distributorsBusiness & Economy June 28, 20:56
Putin says foreign spy services seeking to affect social processes in RussiaRussian Politics & Diplomacy June 28, 20:36
FIFA chief Infantino to attend Chile-Portugal 2017 Confederations Cup semis match in KazanSport June 28, 20:27
Lavrov expects US to refrain from creating pretexts for new attacks on SyriaRussian Politics & Diplomacy June 28, 20:09
Top diplomat says Germany willing to open new chapter in relations with RussiaWorld June 28, 19:28
Russia open for cooperation with Germany in war on terror, Lavrov saysRussian Politics & Diplomacy June 28, 19:22
Baltic Fleet’s fighter jets hold air combat drills in Russia’s westernmost regionMilitary & Defense June 28, 18:57
Russian telecom watchdog to include Telegram in registerBusiness & Economy June 28, 18:51
Skolkovo Foundation proactively cooperating with China — IT projects directorBusiness & Economy June 28, 18:41
RESEARCH TRIANGLE PARK, North Carolina, May 30, 2012 /PRNewswire/ -- Stiefel, a GSK (NYSE:GSK) company, and Welichem Biotech, Inc. (WBI:CN), have entered into an agreement for the acquisition by Stiefel of exclusive development and commercialization rights to the novel anti-inflammatory agent, WBI-1001, in all territories outside of China, Taiwan, Macao and Hong Kong. WBI-1001 is currently in Phase II clinical development for the treatment of psoriasis and atopic dermatitis. The transaction is subject to approval by Welichem shareholders.
Welichem will receive an initial payment of CAD$35 million and is eligible to receive additional milestone payments upon achievement of certain clinical development milestones and upon commercialization in certain countries following marketing approval from the corresponding regulatory agencies.
Under terms of the agreement, Stiefel has also received a conditional right to acquire further exclusive rights to develop and commercialize WBI-1001 in China, Taiwan, Macao and Hong Kong, collectively. Upon satisfaction of certain conditions, Welichem will receive an additional payment of CAD$15million.
"I'm delighted to build upon Stiefel's clinical pipeline of novel dermatology assets with the acquisition of WBI-1001," said Barbara White, Senior Vice President and Head of Research and Development, Stiefel. "We have a strong commitment to patients with skin conditions and are excited to undertake development of this innovative agent."
Tel.: +1-610-917-6914 (Philadelphia)
Tel.: +44(0)20-8047-5543 (London)
Tel.: +1-215-751-5419 (Philadelphia)
Tel.: +44(0)20-8047-5503 (London)
Tel.: +1-215-751-7002 (Philadelphia)
Tel.: +44(0)20-8047-3289 (London)
WBI-1001 is a novel, non-steroidal, topical anti-inflammatory new chemical entity (NCE) that has demonstrated efficacy and safety in Ph1 and Ph2 clinical trials for the treatment of mild to moderate psoriasis[i] and moderate to severe atopic dermatitis[ii] for up to 12 weeks as a single therapy.
About Stiefel, a GSK company
Stiefel, a GSK company, is committed to advancing dermatology and skin science around the world in order to help people better achieve healthier skin. Stiefel's dedication to innovation, along with its focus on pharmaceutical, over-the-counter and aesthetic dermatology products, has established Stiefel as a world leader in the skin health industry. To learn more about Stiefel, visit www.stiefel.com.
Cautionary statement regarding forward-looking statements
Under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, Stiefel, a GSK company, cautions investors that any forward-looking statements or projections made by Stiefel, a GSK company, including those made in this announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Factors that may affect Stiefel, a GSK company's operations are described under 'Financial review & risk section" in GSK's Annual Report 2011 included as exhibit 15.2 to GSK's Annual Report on Form 20-F for 2011.