Deal Includes Option to License Nitric Oxide Platforms in the Acute Care Setting PARSIPPANY, NJ, Dec 05, 2011 (MARKETWIRE via COMTEX) —
The Medicines Company (NASDAQ: MDCO) today announced a non-controlling equity investment in GeNO, LLC (GeNO), an advanced, development-stage technology company that has created unique nitric oxide (NO) generation and delivery technology. In addition to the equity stake, this investment provides MDCO an exclusive option to license GeNO technologies in the acute and intensive care hospital setting in certain geographies.
Glenn Sblendorio, Executive Vice President at The Medicines Company, stated, “Supporting GeNO fits well with MDCO’s strategic focus on acute and intensive care hospital medicine. Nitric oxide therapy has proven value for patients and providers. This equity investment affords MDCO the potential to provide unique NO therapy solutions to healthcare providers in the near future.”
NO therapy is approved for the treatment of term and near-term neonates with hypoxic respiratory failure associated with pulmonary hypertension and its use avoids more invasive and costly therapies for these infants. At present, GeNO’s delivery technologies are investigational and are not approved by regulatory authorities.
About The Medicines Company The Medicines Company (NASDAQ: MDCO) provides medical solutions to improve health outcomes for patients in acute and intensive care hospitals worldwide. These solutions comprise medicines and knowledge that directly impact the survival and well-being of critically ill patients.
About GeNO, LLC GeNO is focused on technology to deliver inhaled nitric oxide to patients in a wide variety of settings, including in-hospital, ambulatory and in-home use for potential chronic treatment. The product is currently in two Phase 2 trials: one, as a Pilot Study in Pulmonary Arterial Hypertension (PAH), and a second dose-escalation trial for the Treatment of Pulmonary Hypertension in patients with PAH and Pulmonary Hypertension secondary to Idiopathic Pulmonary Fibrosis (PH-IPF). GeNO was founded in 2006 and is privately held.
Statements contained in this press release about The Medicines Company that are not purely historical, and all other statements that are not purely historical, may be deemed to be forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Without limiting the foregoing, the words “believes,” “anticipates,” “plans” and “expects” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties that may cause the Company’s actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Important factors that may cause or contribute to such differences include whether the Company’s products will advance into clinical trials or through the clinical trials process on a timely basis or at all, whether results of preclinical studies and clinical trials such as the results described above will be indicative of results in later clinical trials, whether clinical trial results will warrant submission of applications for regulatory approval, whether the Company will be able to obtain regulatory approvals, whether physicians, patients and other key decision-makers will accept clinical trial results, and such other factors as are set forth in the risk factors detailed from time to time in the Company’s periodic reports and registration statements filed with the Securities and Exchange Commission including, without limitation, the risk factors detailed in the Company’s Quarterly Report on Form 10-Q filed on November 9, 2011, which are incorporated herein by reference. The Company specifically disclaims any obligation to update these forward-looking statements.
The Medicines Company