Arexis acquires project in lipid metabolism

2/17/2004 6:00 AM EST

Arexis has acquired a project concerning human bile salt stimulated
lipase, BSSL, from AstraZeneca. The aim of the project is to develop a
new type of substitution therapy for patients suffering from pancreatic
dysfunction, for example for those with cystic fibrosis, and also for
preterm infants.

The acquisition includes transfer of intellectual property and know how
within the BSSL project previously owned by AstraZeneca to Arexis.
AstraZeneca will receive milestone and royalty payments. In addition,
Arexis has acquired an exclusive licence to the patents covering BSSL
held by Oklahoma Medical Research Foundation, OMRF, a licence earlier
held by AstraZeneca.
- All in all, the patents from AstraZeneca and the license agreement
with OMRF give us full control of the BSSL project. We now have the
rights to all future development and all therapeutic indications. The
project fits well into our portfolio and has an attractive profile. The
fact that the enzyme is designed for oral administration is a unique and
important advantage, says Lennart Hansson, CEO at Arexis.

Following the acquisition Arexis is now continuing the clinical project
for treatment of cystic fibrosis and plans to initiate clinical
development of a product for preterm infants.
A phase II study in Belgium was recently concluded where the addition of
BSSL to the ordinary enzyme treatment showed good effects on fat uptake
in patients with cystic fibrosis. - On the basis of these promising
results we have started an additional phase II study in Sweden to more
specifically monitor the qualitative effects on lipid uptake, says Björn
Löwenadler, Chief Scientific Officer at Arexis.

BSSL is a naturally occurring lipid degrading enzyme with the ability to
degrade a large spectrum of lipids in food. It is present in the mature
pancreas and breast milk. Despite the fact that people suffering from
cystic fibrosis largely lack BSSL, it is not a part of the enzyme
treatment available for these patients today. Nor is it included in
formulae given to preterm infants.

Arexis is a pharmaceutical company conducting research based on genetics
in the areas of metabolic and inflammatory diseases such as diabetes,
rheumatoid arthritis and obesity. These are areas with largely unknown
disease aetiology and where genetic predisposing factors play a role.
Arexis was founded in 1999, has 25 employees and is operating in custom
designed laboratories in the newly built Biotech Center in Gothenburg,
Sweden.

For further information contact:
Lennart Hansson, CEO, Arexis
Phone: +46-31- 749 11 10
Mobile: +46- 706-31 00 31
Mail:  

Björn Löwenadler, Chief Scientific Officer, Arexis
Phone: +46-31-749 11 11
Mobile : +46- 706-31 00 30
Mail:  
www.arexis.com