Diaxonhit is informed by Allergan that Bristol-Myers Squibb has decided to stop development of EHT/AGN 0001
by Business Wire
Diaxonhit (Paris:ALEHT), the new leading French provider of specialty diagnostic solutions, was notified of the decision by Bristol-Myers Squibb (BMS) not to continue further development of EHT/AGN 0001, a compound for the treatment of neuropathic pain, and to return to Allergan this program derived from its collaboration with Diaxonhit. The reasons for this decision were not communicated to Diaxonhit.
Diaxonhit would like to emphasize that this peripheral event has no impact on the group's fundamentals; in particular it will not impact its recurring revenues and its main activities in diagnostics.
This outcome, inherent in the development of therapeutics, has no effect on Diaxonhit’s long lasting scientific collaboration with Allergan, including current development projects underway.
"This case confirms altogether the relevance of our strategy for creating a new French integrated leader in the in-vitro diagnostics field, with strong development potential as well as diversified activities and revenue sources," said Loïc Maurel, CEO of Diaxonhit.
Diaxonhit (NYSE Alternext, FR0004054427, ALEHT) is a French fully integrated leader in the in-vitro diagnostic field, involved from research to commercialization of specialty diagnostic products.
With many partnerships and a strong presence in hospitals, Diaxonhit has an extensive commercialization network. Through its affiliate, InGen, it commercializes and services, mostly under exclusivity agreements, in-vitro diagnostic kits and advanced equipment. It operates mainly in the fields of transplantation, infectious diseases and autoimmunity, product quality control and rapid tests, including Tetanus Quick Stick ®, a proprietary product.
The group also owns a diversified portfolio of products in development, including both innovative molecular and non-molecular diagnostics, covering three main specialty areas: immuno-infection, Alzheimer's disease and cancer.
Diaxonhit headquarters are located in Paris and its affiliate in the Paris region. The Group is listed on NYSE Alternext in Paris and is part of the NYSE Alternext OSEO innovation index.
For more information, please visit: http://www.diaxonhit.com.
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