Groundbreaking Agreement for New Tuberculosis Treatment
EMERYVILLE, CA and NEW YORK. Chiron Corporation (Nasdaq: CHIR) and the Global Alliance for TB Drug Development announced today that they have agreed to license terms for the development of PA-824 as a therapeutic agent for the treatment of tuberculosis (TB). Under the terms of the agreement, the Global Alliance for TB Drug Development, a public-private partnership created in 2000, obtains the exclusive worldwide license of PA-824 and related compounds for the development of a new drug to treat tuberculosis.
"Through this unique partnership, we can tackle a critical medical need," said Craig Wheeler, president of Chiron’s BioPharmaceuticals division. "At Chiron we are committed to making a difference in people’s lives, and we are pleased to participate in the development of a potential new treatment for TB. As world leaders gather to review strategies in combating infectious diseases today, we are proud to be making a commitment to develop new drugs that will fight TB and dramatically improve global public health tomorrow."
Dr. Maria C. Freire, CEO of the Global Alliance for TB Drug Development, said, “This agreement confirms that our vision can work and our business strategy is on track. PA-824 is the first of several promising new drug candidates we have under negotiation for further development, to ensure that innovative technologies reach patients who need new medicines. Together with Chiron, we are proving it’s possible to combine the fruits of an aggressive biotech strategy with a social mission.”