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Mariel Therapeutics Announces Definitive Agreement To Acquire Stryker's BMP-7 Assets For Potential Use In Osteoarthritis And Organ Fibrosis

Stocks in this article: SYK

NEW YORK, July 7, 2014 /PRNewswire/ -- Mariel Therapeutics, Inc. today announced that it has entered into a definitive agreement to acquire Stryker Corporation's (NYSE: SYK) Bone Morphogenetic Protein-7 (BMP-7) assets for the potential treatment of osteoarthritis (OA), chronic kidney disease (CKD) and other organ fibrosis conditions, lupus, and obesity. Under the terms of the agreement, Mariel acquired the rights to over 450 issued and pending patents, Stryker's BMP-7-related clinical and research data, and the associated biologic materials. Stryker will have a right of first negotiation for commercial rights in the area of osteoarthritis. Financial terms of the transaction were not disclosed.

Human recombinant BMP-7 has previously been used in reconstructive bone applications in over 40,000 patients. Previous Phase I and Phase IIa trials have been completed in osteoarthritis.   Mariel intends to pursue a Phase IIb/III clinical trial for osteoarthritis (OA) and Phase I trials for chronic kidney disease (CKD) and Alport's disease, a genetic kidney fibrosis disease.

About Mariel Therapeutics, Inc.

Mariel Therapeutics, Inc. (Mariel) is a clinical stage biopharmaceutical company focused on the clinical application of Bone Morphogenetic Protein-7 (BMP-7) in osteoarthritis (OA), chronic kidney disease (CKD), and Alport's Syndrome. 

Forward-Looking Statements

These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast," "estimate" and "intend," among others. These forward-looking statements are based on Mariel Therapeutics' current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainties associated with completing preclinical and clinical trials for our technologies; the early stage of product development; the significant costs to develop our products as all of our products are currently in development, preclinical studies or clinical trials; obtaining additional financing to support our operations and the development of our products; obtaining regulatory approval for our technologies; anticipated timing of regulatory filings and the potential success in gaining regulatory approval and complying with governmental regulations applicable to our business. Mariel Therapeutics does not undertake an obligation to update or revise any forward-looking statement. The information set forth herein speaks only as of the date hereof.

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