Hutchmed Regulatory News (HCM)

20 Nov 2006 07:02

Hutchison China Meditech Limited20 November 2006 For Immediate Release Hutchison China MediTech Limited ("Chi-Med") (AIM: HCM) Chi-Med and Merck KGaA Start Collaboration to Discover Novel Small Molecule Anti-Cancer Drugs London: Monday, 20 November 2006: Chi-Med today announces the signing of acollaboration agreement between its wholly-owned drug R&D subsidiary HutchisonMediPharma Limited ("Hutchison MediPharma") and Merck KGaA ("Merck") ofDarmstadt, Germany on future joint research efforts focusing on discoveringnovel anti-cancer drugs derived from natural products that modulate oncologicalpathways. Financial details are not being disclosed. Mr. Christian Hogg, CEO of Chi-Med, said: "Over the last four years, we have established a solid R&D organization that hasbrought two candidates into US phase II clinical studies in the oncology andauto-immune areas. We are delighted to partner with Merck to broaden ourresearch activities in the oncology area. Merck has a good record of achievementin the development and commercialization of oncology products such as Erbitux.In addition, we believe this collaboration further validates Chi-Med's drugdiscovery capability." Chi-Med sees Traditional Chinese Medicine as a major, under-exploited reservoirfor the development of novel drugs for the global pharmaceutical market and fordeveloping new products for the global health and beauty consumer markets.Plants, particularly those that have been used as traditional medicines, have along-established record of efficacy and safety. Dr. Samantha Du, Chief Scientific Officer and Executive Vice President ofChi-Med, commented: "The goal of this collaboration is to leverage the expertise of both Merck andChi-Med in oncology research. This collaboration will allow us to addressimportant unmet medical needs by accessing natural products, a rich source ofdiversified chemical components with drug-like properties." Dr. Ulrich Betz, Preclinical R&D, Head of Strategic Innovation and ResearchPortfolio Management for Merck, said: "We are delighted to complement and enrich our oncology research with thiscollaboration. It will also allow us to extend our interaction with the emergingChinese pharmaceutical industry that builds on the long-standing tradition andknowledge of Traditional Chinese Medicine combined with modern scientifictechnology. We are looking forward to a productive collaboration with Chi-Med." Ends Enquiries Chi-Med Telephone: +852 2121 8200Christian Hogg, CEO Citigate Dewe Rogerson Telephone: +44 (0) 20 7638 9571Anthony Carlisle +44 (0) 7973 611 888Chris Gardner +44 (0) 7903 737 649Yvonne Alexander +44 (0) 7866 610 682 Notes to Editors Chi-Med is the holding company of a pharmaceutical and healthcare group basedprimarily in China and was admitted to trading on the Alternative InvestmentMarket of the London Stock Exchange in May 2006. Chi-Med is focused onresearching, developing, manufacturing, and selling pharmaceuticals, healthsupplements and other consumer health and personal care products derived fromTraditional Chinese Medicine and botanical ingredients. Its overall aim is todraw on the untapped wealth of knowledge and history of usage in the TraditionalChinese Medicine industry to develop products for the global market. The Companyhas three complementary businesses: drug R&D, China healthcare and consumerproducts. Hutchison MediPharma is Chi-Med's wholly-owned drug research and developmentcompany and has a team of around 100 scientists and staff focusing on botanicaldrugs, semi-synthetic natural product drugs, and synthetic single chemicalentity drugs. It currently has two candidates in clinical development in boththe US and China. HMPL-002, a radiosensitiser for head and neck and non-smallcell lung cancer ("NSCLC"), is in Phase I/II in the US and in proof of conceptin China. HMPL-004, an inhibitor to a group of inflammatory cytokines, fortreatment of inflammatory bowel diseases ("IBD"), including Crohn's Disease("CD") and Ulcerative Colitis ("UC"), is in Phase II in the US and in proof ofconcept in China. Hutchison MediPharma also has a pipeline of single molecularentity discovery projects in the auto-immune/inflammatory diseases and oncologytherapeutic areas which have shown activity against clinically validatedtargets. Chi-Med is majority owned by Hutchison Whampoa Limited, an internationalcorporation listed on the Main Board of The Stock Exchange of Hong Kong Limited. About Merck KGaA Merck is a global pharmaceutical and chemical company with sales of • 5.9billion in 2005, a history that began in 1668, and a future shaped by 30,158employees in 56 countries. Its success is characterized by innovations fromentrepreneurial employees. Merck's operating activities come under the umbrellaof Merck KGaA, in which the Merck family holds a 73% interest and freeshareholders own the remaining 27%. In 1917 the U.S. subsidiary Merck & Co. wasexpropriated and has been an independent company ever since. This information is provided by RNS The company news service from the London Stock Exchange