7TM Pharma receives milestone payment  

2006.02.24
Biotech company 7TM Pharma, based north of Copenhagen, has received an undisclosed milestone payment from Procter & Gamble Pharmaceuticals

Biotech company 7TM Pharma, based north of Copenhagen, has received an undisclosed milestone payment from Procter & Gamble Pharmaceuticals. The payment was triggered due to successful progress of preclinical development of drug candidates for the treatment of peripheral arterial disease and coronary arterial disease related to arteriosclerosis.

Thue Schwartz, research director of 7TM Pharma comments: "We have received the milestone payment because the substances we have developed now have entered the next stage. We are getting closer to the time where we choose the substance that will be tested in humans." These trials are expected to start in 2007. The news was reported by national daily newspaper Jyllands-Posten and in a press release on 7TM Pharma's website.

7TM Pharma is a drug discovery and development company which has a pipeline of advanced programmes in its main therapeutic focus area, obesity. The biotech company's pipeline also includes programmes on well validated targets in allergy/inflammation, therapeutic angiogenesis and cardiovascular diseases. Last year, 7TM entered research agreements with Procter & Gamble Pharmaceuticals and Johnson & Johnson.

Link > 7TM Pharma 

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