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Trigen and ProCorde merge to create Europe’s first broad-based cardiovascular biotech company


London, UK and Martinsried, Germany, 11 April 2005 – Trigen Holdings plc and ProCorde GmbH announced today that they have merged their interests into Trigen Holdings AG. The combination of Trigen and ProCorde creates a leader in cardiovascular drug discovery and development, focussing on thrombosis and vascular dysfunction. The company’s expanded product pipeline includes Trigen’s existing clinical stage candidates, TGN 255 and TGN 167, and ProCorde’s PR-15, which is expected to enter the clinic later this year. The company also has an extensive portfolio of exciting pre-clinical and discovery stage programmes targeting thrombosis, atherosclerosis and other cardiovascular pathologies. In addition it will benefit from two established discovery platforms, SIGSCREEN® and THROMSCAN® which have been applied in collaborations between ProCorde and a number of “Big Pharma” companies. The products, programmes and technologies have all been discovered in the laboratories of either Trigen or ProCorde, have been developed in-house and continue to be controlled by the combined entity.

Dr Sanjay Kakkar, the current CEO of Trigen will become the new group CEO. Barry Knight Trigen’s Finance Director will become the group Finance Director and both will serve on the Management Board of Trigen Holdings AG. Dr Goran Ando (previously CEO of Celltech) has been appointed Chairman of the Supervisory Board; the other members include Charles Klotz (representing Canasta Group Ltd), Dr Magnus Persson (representing HealthCap) and Dr Erich Schlick (former head of R&D at BASF Pharma and representing 3i). The merged company will benefit from one of the strongest management teams in European biotechnology, drawing its Executive Management Team from the senior executives of both companies. The new company will maintain current sites in the UK and Germany for the foreseeable future.

TGN 255 is a novel intravenous small-molecule Direct Thrombin Inhibitor (DTI) being developed as a predictable and safer alternative for anti-coagulation in hospital settings. TGN 167 is an orally bioavailable DTI competitively positioned for outpatient anti-coagulation markets with blockbuster potential. PR-15 is a novel anti-platelet protein with the potential to treat arterial thrombosis occurring during acute coronary syndromes without the bleeding risk associated with existing agents.

The combined headcount of the new entity will be 50 with a broad and complementary array of skills enabling the company to execute efficiently programmes from early discovery stage through to late-stage clinical development and commercialisation. The merged company will benefit from in-house discovery and development expertise in small molecule and protein therapeutics, bringing together existing highly-skilled chemistry and biology teams in the UK and Germany.

Dr Götz Münch, ProCorde’s CEO commented “We are delighted to have found such a complementary partner in Trigen. Cardiovascular diseases, and in particular thrombosis and vascular dysfunction are the world’s largest cause of premature death and disability. There is a real need for an industry champion to raise awareness and address the problem head-on through innovative research, drug discovery and development.” Dr Münch will continue to lead the combined company’s operations in Munich and is a member of the Executive Management Team in the new company.

Dr Sanjay Kakkar, Trigen’s CEO added “The combination of Trigen’s and ProCorde’s pipelines, technologies and skills provides in a single biotech company the opportunity to target the key components of a major therapeutic area to produce competitive products with significant market opportunity. It is of interest that this has been achieved in Europe where the need for consolidation in biotechnology has been recognised for some time but finding a partnership that builds on strengths like this is rare and valuable. We are excited and positive about our future prospects and confid


Publisher Contact Information:

Trigen Ltd.
+44 (0)20 7004 2653
atapp@trigen.co.uk

Company profile of Trigen Holdings AG
Past press releases of Trigen Holdings AG.

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