BOZEMAN, Mont., Sept. 18 /PRNewswire/ -- LigoCyte Pharmaceuticals, Inc., today announced a strategic partnership with Biogen Idec (NASDAQ:BIIB) to develop therapies targeting CD103 for the treatment of chronic inflammatory diseases including potential respiratory, gastrointestinal, and autoimmune indications. CD103 is the unique alphaE-beta7 integrin that has been implicated in the activation, homing and retention of lymphocytes that mediate inflammatory diseases affecting mucosal regions of the intestine, skin, and lungs.
Under terms of the agreement, LigoCyte will receive milestone payments on the successful development of drug candidates. The collaboration includes an opportunity for co-development, co-promotion, and sharing of profits resulting from commercialized products.
"We are very pleased to be entering into this collaboration with Biogen Idec for the development of our lead anti-inflammatory therapy," said Donald P. Beeman, CEO and chairman of the board for LigoCyte. "This strategic alliance confirms the value of LigoCyte's immunology expertise." About LigoCyte LigoCyte Pharmaceuticals, Inc., is a privately held biopharmaceutical company developing vaccines and therapeutic monoclonal antibodies focused on important respiratory and gastrointestinal markets. The company is currently investigating its norovirus vaccine in human clinical studies. For more information on LigoCyte, please visit http://www.ligocyte.com/. DATASOURCE: LigoCyte Pharmaceuticals, Inc.
CONTACT: Media, Karen Sipes, Ph.D., Director, Marketing & Communications, +1-406-556-9228, or investors, Robert Goodwin, Ph.D., President & COO, +1-406-585-2733, both of LigoCyte Pharmaceuticals, Inc.
Web site: http://www.ligocyte.com/
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