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Quatrx pharmaceuticals announces merger with Hormos Medical


May 16, 2005 -- ANN ARBOR, MI and TURKU, FINLAND—QuatRx Pharmaceuticals Company, a privately-held biopharmaceutical company developing new therapies to treat cardiovascular, metabolic and endocrine diseases, has announced a merger with Hormos Medical Corporation, a biopharmaceutical company based in Turku, Finland, focused on research and development of products to treat endocrine disorders associated with aging. Under the terms of the transaction, Hormos will become a wholly-owned subsidiary of QuatRx.

The combined entity, which will be known as QuatRx Pharmaceuticals, will bring together the complementary resources of the two companies and will be headquartered at the current QuatRx facility in Ann Arbor, MI, and have offices in Turku, Finland. Robert L. Zerbe, M.D., president and CEO of QuatRx, will be president and CEO of the combined company. Risto Lammintausta, M.D., Ph.D., formerly CEO at Hormos, will join the senior management team at QuatRx.

“With the added resources of Hormos in the endocrine area, QuatRx is taking a significant step forward in our strategy to develop new therapies to treat major health problems affecting millions of people worldwide. Combined with our strong financial position and our existing product pipeline to treat metabolic and cardiovascular diseases, this transaction significantly enhances QuatRx’s efforts to build a world-class portfolio of development-stage therapeutics with significant market potential,” Dr. Zerbe said.

With the completion of this transaction, QuatRx’s product pipeline will include two candidates positioned to enter Phase 3 clinical trials, two development programs positioned to enter Phase 2 trials in the next year, a candidate positioned to enter Phase 1 studies, and an expanded portfolio of earlier stage programs.

The merger with Hormos will immediately add two clinical-stage compounds to the QuatRx pipeline. Ospemifene, a selective estrogen receptor modulator (SERM) for the treatment of conditions and symptoms associated with declining estrogen levels in postmenopausal women, is positioned to enter Phase 3 studies. Fispemifene is a therapeutic agent for the treatment of androgen deficiency and associated conditions in aging men. QuatRx plans to initiate Phase 2 studies for fispemifene in 2005. Both therapies work to deliver the benefit of hormone treatment with a more targeted approach designed to avoid the side effects often associated with broad hormone therapy.

“The identification and development of targeted therapies with advanced tissue-specific profiles has been the core competence of Hormos. By combining this focus with the development expertise and resources available at QuatRx, the merged organization is exceptionally well-positioned to advance a new generation of estrogen and androgen therapies that will offer significant advantages over other agents,” said Dr. Lammintausta.

QuatRx is also continuing to develop its pipeline of product opportunities in dyslipidemia. QuatRx’s lead dyslipidemia products, QRX-401 and QRX-431, have novel dual mechanisms of action designed to reduce the levels of LDL and Lp(a), both independent markers for premature coronary heart disease. QRX-401, currently in advanced Phase 1 trials, is positioned as an alternative treatment option for use alone or in combination with statins, fibrates and other current lipid treatment programs. QRX-431, which is undergoing preclinical studies, works as an agonist on a specific thyroid receptor, helping to increase metabolism without creating negative cardiac effects while still promoting the hepatic functions that help lower lipid levels.

QuatRx is also developing a new treatment for psoriasis. Becocalcidiol, which has just completed Phase II clinical studies, is a vitamin D analogue for the topical treatment of psoriasis without the liability of hypercalcemia associated with current therapies.

“The QuatRx management team has extensive experience in all phases<


Publisher Contact Information:

Hormos Medical Corp
+1 734 913 9900
info@QuatRx.com

Company profile of Hormos Medical Corp (Merged with QuatRx Pharmaceuticals Inc.)
Past press releases of Hormos Medical Corp (Merged with QuatRx Pharmaceuticals Inc.).

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