TIDMPRX

Proximagen Group PLC

11 May 2012

11 May 2012

Proximagen Group plc

("Proximagen" or the "Company")

Proximagen notes positive vote from FDA in respect of Arena's 5-HT2c agonist lorcaserin

London, UK, 11 May 2012 - Proximagen Group plc (AIM: PRX), the rapidly growing company with a focus on the treatment of disorders of the central nervous system and inflammatory diseases, welcomes yesterday's announcement by Arena Pharmaceuticals, Inc. that the US Food and Drug Administration ("the FDA") Endocrinologic and Metabolic Drugs Advisory Committee had voted in favour of the available data demonstrating that the potential benefits of lorcaserin outweigh the potential risks when used long-term in a population of overweight and obese individuals. The committee voted 18-4 in favour of lorcaserin.

Lorcaserin is a 5-HT2c agonist intended for weight management, including weight loss and maintenance of weight loss, in patients who are obese or overweight and have at least one weight-related co-morbid condition.

Proximagen owns the worldwide rights to PRX00933, an oral 5-HT2c agonist for treating obesity. In Phase II trials, PRX00933 showed a dose-dependent and statistically significant decrease in body weight that falls within FDA guidelines for this condition. PRX00933 has been shown to be safe and well tolerated and has been administered to approximately 400 patients.

The Company will continue to evaluate the commercial opportunities that PRX00933 presents, whilst awaiting the final decision of the FDA on lorcaserin which is due next month.

Enquiries

 
  Proximagen Group plc                 Tel: +44 (0)20 7400 7700 
   Kenneth Mulvany, Chief Executive 
    Officer 
   James Hunter, Finance Director 
 
   Singer Capital Markets (Nominated    Tel: +44 (0)20 3205 7500 
    Adviser) 
   Shaun Dobson/Claes Spang 
 
   M:Communications (Media enquiries)   Tel: +44 (0)20 7920 2330 
   Mary-Jane Elliott / Sara McLeod      proximagen@mcomgroup.com 
    / Hollie Vile 
 About Proximagen 
  Proximagen Group plc (AIM:PRX) is a European biotechnology company 
  focused on the development and commercialisation of novel therapeutics 
  for diseases of the central nervous system (CNS) and inflammation. 
 
  The Company is developing potential new best-in-class therapeutics 
  in its core disease areas including epilepsy, Parkinson's disease, 
  and Alzheimer's disease, as well as in other areas such as inflammation, 
  oncology and neuropathic pain. 
 
  Proximagen has a number of existing partnerships with pharmaceutical 
  companies including GlaxoSmithKline, Upsher-Smith and Lundbeck, 
  and is developing a broad pipeline of drug candidate programmes, 
  with four programmes in clinical development and more than ten 
  earlier stage assets being progressed. 
 
  Proximagen's strategy is to advance its pipeline with its partners 
  and to acquire innovative drug candidates that complement its 
  pipeline, with the objective of scaling up its risk-mitigated 
  operating model and generating sustainable profits. 
 
  For more information, please visit www.proximagen.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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