Stockholm, Sweden — Medivir AB (Nasdaq Stockholm: MVIR) today announces that the development of AL-704 (also known as JNJ-54257099) has been terminated following completion of phase I clinical studies conducted by Alios Biopharma Inc., one of the Janssen Pharmaceutical Companies. These studies demonstrated that AL-704 was safe, well tolerated and had acceptable pharmacokinetic properties. However its clinical antiviral activity in persons infected with HCV genotype 1 was insufficient to justify further clinical studies. No further compounds arising from Medivir’s license agreement with Janssen on HCV NS5B polymerase inhibitors are expected to be progressed into clinical studies, and therefore no further revenues from this agreement will be received.
Termination of this project does not affect the MIV-802 project, which is wholly owned by Medivir, nor any of the products or compounds in other partnerships with Janssen.
For further information, please contact:
Ola Burmark, CFO Medivir AB, mobile: +46 (0) 725 480 580
Richard Bethell, EVP Discovery Research Medivir AB, mobile: +46 (0) 727 043 211
Medivir is required under the Securities Markets Act to make the information in this press release public.
The information was submitted for publication at 8.30 CET on 21 December 2015.
Medivir is a research based pharmaceutical company with a research focus on infectious diseases and oncology. We have a leading competence within protease inhibitor design and nucleotide/nucleoside science and we are dedicated to develop innovative pharmaceuticals that meet great unmet medical need. Our commercial organization provides a growing portfolio of specialty care pharmaceuticals on the Nordic market. Medivir is listed on the Nasdaq Stockholm Mid Cap List.