Navigation Links
Sosei Announces Outcome of Strategy Review
Date:5/13/2008

TOKYO, May 14 /PRNewswire-FirstCall/ -- Sosei Group Corporation ("Sosei"; TSE Mothers Index: 4565), a biopharmaceutical company, today announces the outcome of its strategy review.

In view of the current market conditions, the difficulty in raising finance at the current low share price, and the problems associated with the AD923 device which has necessitated a halt to the Phase III trials Sosei has taken decisive action to cut costs, streamline its operation and to secure the future of the business until it becomes a significant income generating business from NVA237/QVA149 in a few years time.

- Sosei is closing its Chesterford operation and Sosei R&D's

continuing business will relocate to London in due course. This will

reduce UK headcount by c 40 staff and provide a full years cost saving of

around $4M.

- Sosei will no longer operate a drug discovery unit.

- Sosei R&D will maintain the rights to NVA237/QVA149 but seek

to out-license or sell all other assets generated in the UK including

AD923 and its discovery assets whilst seeking to retain some rights for

the Asian market.

- Tokyo will continue to develop Norlevo and explore other

in-licensing opportunities.

This restructuring and portfolio review will provide Sosei with at least two years cash based on the post-restructuring cash burn including a budget allocation to explore some late stage product opportunities for future expansion but without the inclusion of any income from licensing or sales deals for its compounds.

Notes for Editors:

About Sosei

Sosei Group Corporation is a leading international biopharmaceutical company with significant expertise in product discovery and development. It has established a reduced risk business model primarily upon identifying new uses for established drugs and exploiting its unique position within Japanese, European and North American pharmaceutical mark
'/>"/>

SOURCE Sosei Group Corporation
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2

Related biology technology :

1. Sosei Announces Completion of Phase II Trial of AD 337 in Fibromyalgia Syndrome
2. BD Announces Acquisition of Cytopeia
3. Chindex International Announces Shelf Registration, Related Strategy and Guidance
4. Amicus Therapeutics Announces First Quarter 2008 Financial Results
5. Chindex International Announces Conference Call to Discuss Its Fiscal 2008 Fourth Quarter and Year End Results on Thursday, June 12, 2008
6. Jazz Pharmaceuticals, Inc. Announces First Quarter 2008 Financial Results
7. China Sky One Medical, Inc. Announces Record First Quarter 2008 Results
8. Synvista Therapeutics Announces Initiation of the BREAK Study of Alagebrium for Diastolic Heart Failure
9. Palatin Technologies Announces New Strategic Objectives and Reports Third Quarter 2008 Financial Results
10. SGX Pharmaceuticals Announces First Quarter Financial Results and Gives Pipeline Update
11. Aton Pharma Announces Distribution Partnership in Brazil
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/18/2014)... , September 18, 2014 /PRNewswire/ ... Markets ( http://www.researchandmarkets.com/research/czvg3s/biocompatible ) has announced ... Materials - Global Strategic Business Report" ... (Logo: http://photos.prnewswire.com/prnh/20130307/600769) ,This report analyzes the ... US$ Million by the following Product ...
(Date:9/18/2014)... -- Research and Markets has announced the ... Industry Report, 2014-2017" report to their offering. ... can differentiate into specialized cells and can divide (through ... can be applied to treatment of cardiovascular diseases, leukemia ... damage or lesion of liver, kidney and other parenchymal ...
(Date:9/18/2014)... , Sept. 18, 2014 Research ... "Global Companion Diagnostics (Polymerase Chain Reaction, In-situ hybridization, ... report to their offering. The global ... CAGR of 22.7% from 2014 to 2019. Factors such ... growing adoption of companion diagnostics by the pharmaceutical industry, ...
(Date:9/18/2014)... , Sept. 18, 2014  MEI Pharma, Inc. (Nasdaq: ... clinical development of novel therapies for cancer, announced today that ... Officer, will present at BioCentury,s NewsMakers in the Biotech ... a.m. Eastern time from the Millennium Broadway Hotel & Conference ... webcast of the presentation can be accessed at www.meipharma.com ...
Breaking Biology Technology:Biocompatible Materials - Global Strategic Business Report 2014 2Biocompatible Materials - Global Strategic Business Report 2014 3Global and Chinese Stem Cell Industry Report, 2014-2017 2Global and Chinese Stem Cell Industry Report, 2014-2017 3Global Companion Diagnostics (Polymerase Chain Reaction, In-situ hybridization, Immunohistochemistry) Market - Trends & Forecasts to 2019 2Global Companion Diagnostics (Polymerase Chain Reaction, In-situ hybridization, Immunohistochemistry) Market - Trends & Forecasts to 2019 3MEI Pharma To Present At BioCentury's NewsMakers Conference 2MEI Pharma To Present At BioCentury's NewsMakers Conference 3
... Dialysis Catheter With Patented Triple Arterial Lumen ... ... /PRNewswire-FirstCall/ - Angiotech Pharmaceuticals,Inc. (NASDAQ: ANPI , TSX: ANP) today ... catheter at the 2008,Society of Interventional Radiology (SIR) Annual Scientific Meeting ...
... 1:30 p.m. (Pacific Time); ... http://www.adventrx.com , SAN DIEGO, March 13 ... focused on in-licensing,developing and commercializing proprietary product candidates primarily ... financial,results for the fourth quarter and year ended December ...
... Brussels: THR), a biotechnology company focused on vascular,diseases, ... results for,the twelve month period ending 31 December ... to invest in its development,pipeline and has continued ... Highlights, - Successful placing of a total ...
Cached Biology Technology:Angiotech showcases its Hemostream(TM) Dialysis Catheter at the Society of Interventional Radiology (SIR) Annual Meeting 2Angiotech showcases its Hemostream(TM) Dialysis Catheter at the Society of Interventional Radiology (SIR) Annual Meeting 3Angiotech showcases its Hemostream(TM) Dialysis Catheter at the Society of Interventional Radiology (SIR) Annual Meeting 4Angiotech showcases its Hemostream(TM) Dialysis Catheter at the Society of Interventional Radiology (SIR) Annual Meeting 5ADVENTRX Pharmaceuticals, Inc. Reports Fourth Quarter and Full Year 2007 Financial Results 2ADVENTRX Pharmaceuticals, Inc. Reports Fourth Quarter and Full Year 2007 Financial Results 3ADVENTRX Pharmaceuticals, Inc. Reports Fourth Quarter and Full Year 2007 Financial Results 4ADVENTRX Pharmaceuticals, Inc. Reports Fourth Quarter and Full Year 2007 Financial Results 5ADVENTRX Pharmaceuticals, Inc. Reports Fourth Quarter and Full Year 2007 Financial Results 6ADVENTRX Pharmaceuticals, Inc. Reports Fourth Quarter and Full Year 2007 Financial Results 7ThromboGenics Announces 2007 Full Year Results 2ThromboGenics Announces 2007 Full Year Results 3ThromboGenics Announces 2007 Full Year Results 4
(Date:9/19/2014)... by researchers from several Harvard University labs in ... and aspiring researchers with the intellectual raw materials ... from soft, flexible materials. , With the advent ... advances in manufacturing technology, soft robotics is emerging ... from conventional rigid robot design, but working with ...
(Date:9/19/2014)... sense of fairness did not evolve for the sake ... the benefits of continued cooperation, so say Frans de ... review article about inequity aversion (IA), which is defined ... is published in Science . , Their ... IA-related studies to address their hypothesis that it is ...
(Date:9/19/2014)... shows that legume plants regulate their symbiotic relationship ... are transmitted through the plant structure from leaves ... bacteria-holding nodules in the roots. This collaborative study ... for Basic Biology, the Graduate University for Advanced ... Resource Science in Japan. , Legumes, an ...
Breaking Biology News(10 mins):Soft robotics 'toolkit' features everything a robot-maker needs 2Evolution of responses to (un)fairness 2Evolution of responses to (un)fairness 3For legume plants, a new route from shoot to root 2
... puzzled scientists, and several scenarios have been proposed to ... appeared virtually simultaneously on Asia, Europe and North America ... research using the latest evidence suggests a completely different ... sudden, rapid global warming drove the dispersal. , ...
... 18 HIV-positive subjects shows that HIV in the brain and ... in the blood and peripheral tissues. , Moreover, serious cognitive ... of a particular mutation in the HIV envelope gene. ... Brain. It was led by Satish K. Pillai, PhD, a ...
... eat together, and most people find it impossible to ... share just about everything, including their genes. But sometimes ... predicts both of them should. , Scientists at the ... understand how two people who are so similar biologically ...
Cached Biology News:Ancient global warming drove early primates' dispersal 2Viral genetic differences are possible key to HIV dementia 2Viral genetic differences are possible key to HIV dementia 3How can identical twins be genetically different? 2How can identical twins be genetically different? 3
... Novagens PhageMaker System is optimized for maximum ... ligated with any bacteriophage l vector. Using a ... > 10^7 pfu/g arms (> 4 x 10^8 ... This one-tube system is extremely easy to use; ...
Gridded Cell Culture Petri Dish (20 mm molded in base), tissue-culture treated...
Chicken Anti-Human DNA-directed RNA Polymerase II 7.6 Kd Polypeptide (POLR2L Polyclonal AntibodyOther Sub-Family: not assigned-Other Applications: ELISA, Western Blot...
... cultured in RPMI 1640 with 2 mM L-glutamine ... In order to keep the antigens in ... The cells are arrayed on a 12-well ... surface specifically treated to enhance cellular attachment and ...
Biology Products: