Biogen Idec uses Phenex´ expertise to identify novel ligands for an undisclosed nuclear
receptor

Ludwigshafen, Germany, December 3rd, 2008

Phenex Pharmaceuticals AG and Biogen Idec announced today that they have entered into a collaboration to identify novel ligands for an undisclosed nuclear receptor. Phenex uses its expertise on nuclear receptor assay technology to screen the receptor and to validate screening hits for their potential to give rise to drug candidates. The companies agreed not to disclose the receptor nor the therapeutic area they intend to address. Biogen Idec will pay Phenex certain fees for assay development and screening, as well as milestones for successfully identified and validated hit series.

“We are very glad to enter into this collaboration with Biogen Idec, one of the most experienced and successful US biotech companies,” says Dr. Claus Kremoser, CEO of Phenex. He continues, “We are proud that they rely on our Nuclear Receptor expertise and our capabilities in finding small molecule ligands for this special Nuclear Receptor. We have invested in identifying tool compounds and reference ligands for a series of Nuclear Receptors that were believed to be difficult to address. This investment now seems to pay off and we thank Biogen Idec for their trust in us!”

Contact

Waldhofer Str. 104
69123 Heidelberg
Germany
Phone: +49 6221 65282-0
Fax: +49 6221 65282-10
Dr. Claus Kremoser
Thomas Hoffmann
mailto: info@phenex-pharma.com

About Phenex Pharmaceuticals AG

Phenex is a privately held drug discovery and development company headquartered in Heidelberg. The biopharmaceutical company can now build on nineteen years of expertise in exploring and defining innovative, potent and selective new drug candidates from small molecules. Phenex´s R&D activities are centered around diseases of liver such as NASH and cancer.