Orion and University of Wisconsin-Madison will start strategic collaboration
(Thomson Reuters ONE) -
Press Release 14 December 2016 at 8:00 EET
The Wisconsin Technology Innovation Initiative (Wi2), a non-profit organization
formed to support the School of Medicine and Public Health at the University of
Wisconsin-Madison, and Orion Corporation, a Finnish pharmaceutical and
diagnostics company, have announced a strategic collaboration in pursuit of new
medicines for oncological diseases.
Under the terms of the agreement, target proteins (modes of action) identified
and initially validated at UW-Madison will be provided to Orion as a first step
in establishing a research and development collaboration. The parties will
jointly participate in planning and conducting research and development projects
according to predefined roles and responsibilities. Both parties will cover
their own costs throughout the collaboration. The agreement states that all
future income related to individual joint projects of the collaboration parties
shall be shared between the parties in proportion to their respective share of
development investments.
"We are excited about partnering with Wi2 and the University of Wisconsin-
Madison, which is recognized for its scientific excellence in the field of
oncology. The university is performing fundamental research and also has
excellent capabilities for Phase IIA clinical studies. These competence areas
added to our expertise to develop a molecule to medicine are offering us a great
opportunity to find, research and develop new treatments for patients suffering
from oncological diseases", says Reijo Salonen, MD, PhD, Senior Vice President,
Pharmaceutical Research and Development and Chief Medical Officer at Orion
Corporation.
"Wi2 is eager to be the bridge that makes this collaboration possible," says
Richard L. Moss PhD, Chief Scientific Officer for Wi2. "Collaborating with a
global partner such as Orion is an important step in making sure that valuable
discoveries made at UW-Madison can be developed into potentially life-saving
drugs."
Wi2 is a non-profit organization committed to cultivating and supporting
innovation. It supports the School of Medicine and Public Health at the
University of Wisconsin-Madison, a global leader in life science research and
technology development. In collaboration with Orion, the University of
Wisconsin-Madison's core competence areas are target discovery and validation,
biological testing and conducting clinical Phase IIA studies.
Orion's oncology therapy area has been growing remarkably and the company has
three promising development projects ongoing in the field of oncology. Orion has
a proven track record in developing new innovative treatments from molecule to
man, and therefore, collaboration with UW-Madison will improve the opportunities
to find and invent new innovative treatments in the field of oncology.
About the Wisconsin Technology Innovation Initiative (Wi2) and the University of
Wisconsin-Madison
The Wisconsin Technology Innovation Initiative, Inc. (Wi2) is a private, non-
profit corporation committed to cultivating and supporting innovation by
investigators in the UW School of medicine and Public Health at the University
of Wisconsin-Madison. Wi2 supports the mission of the school and the university
by developing innovative therapeutics to improve health by alleviating disease,
by enhancing the ability of the university to educate students in the process of
medical product development, by providing increased opportunities for faculty,
staff and trainees to develop and use their skills in product development, and
by supporting the transition into the marketplace of useful technologices
developed at the university as well as private companies and other research
institutions.
The University of Wisconsin-Madison's highly diverse concentration of bioscience
expertise makes it a world leader in biotechnology, life science and medical
research. Among United States public universities, UW-Madison ranks 6(th) in
research expenditures (2016), and 7(th) among U.S. universities for patents
issued annually. Its distinctive history includes the first bone marrow
transpant, the creation of the first synthetic gene, and the first cultivation
of embryonic stem cells in a laboratory setting.
About Orion
Orion is a globally operating Finnish company developing pharmaceuticals and
diagnostic tests - a builder of well-being. Orion develops, manufactures and
markets human and veterinary pharmaceuticals, active pharmaceutical ingredients
and diagnostic tests. The company is continuously developing new drugs and
treatment methods. The core therapy areas of Orion's pharmaceutical R&D are
central nervous system (CNS) disorders, oncology and respiratory for which Orion
develops inhaled Easyhaler® pulmonary drugs. Orion's net sales in 2015 amounted
to EUR 1,016 million and the Company had about 3,400 employees. Orion's A and B
shares are listed on Nasdaq Helsinki.
http://www.orion.fi/en
Twitter: (at)OrionPharma & (at)OrionCorpIR
Further information:
Reijo Salonen, SVP, Pharmaceutical Research and Development and Chief Medical
Officer
Orion Corporation
Phone +358 50 966 3647
Press Release 14 December 2016:
http://hugin.info/3079/R/2064631/774973.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Orion Oyj via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 14.12.2016 - 07:00 Uhr
Sprache: Deutsch
News-ID 512687
Anzahl Zeichen: 6175
contact information:
Town:
Espoo
Kategorie:
Business News
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