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Company Advances Pipeline With Strong Capital Position Following 2012 Spin-Off
NEOD001 to Enter Clinic in Early 2013
DUBLIN, Ireland, March 28, 2013 (GLOBE NEWSWIRE) -- Prothena Corporation plc (Nasdaq:PRTA), a biotechnology company focused on the discovery and development of novel antibodies for the potential treatment of a broad range of diseases, today reported financial results for the fourth quarter and full year ended December 31, 2012 and provided an update on research and development.
"Prothena targets proteins in novel ways to resolve unmet clinical need in patients. We achieved significant milestones in 2012; the FDA accepted our IND for NEOD001, and we established Prothena as an independent company. We expect to continue our positive momentum in 2013 by initiating a Phase 1 clinical trial for NEOD001 and advancing our research pipeline toward the clinic," said Dale Schenk, PhD, President and Chief Executive Officer of Prothena.
"Our research and clinical progress has been supported by our success in building a seasoned board and solid management team," continued Dr. Schenk. "We have a strong capital position to advance our lead assets further in clinical development including NEOD001 through Phase 2 proof of concept data, and PRX002 and PRX003 through Phase 1 clinical trials. We look forward to continued progress toward these goals in 2013."
Completed separation from Elan and listing on Nasdaq as a public company; capitalized with $125 million in cash
NEOD001 was granted orphan drug designation for both AL and AA amyloidoses by U.S. Food and Drug Administration (FDA)
NEOD001 Investigational New Drug (IND) application for both AL and AA amyloidoses filed and accepted by FDA
PRX002 (formerly NEOD002) pre-clinical proof of concept and clinical supply manufacturing efforts progressed
PRX003 established pre-clinical proof of concept
Research and Development Pipeline Highlights
Prothena's research and development pipeline includes three lead therapeutic antibody programs that the company plans to advance aggressively in 2013 and several discovery programs staged for future value.