CAMBRIDGE, Massachusetts and INGELHEIM, Germany, 14-4-2015 — /EuropaWire/ — Hydra Biosciences, Inc., a leader in the field of transient receptor potential (TRP) channel modulation, and Boehringer Ingelheim today announced that they have entered into a worldwide research collaboration and license agreement to identify small-molecule TRP inhibitors, with a primary focus on the treatment of renal diseases and disorders.
“This partnership between Boehringer Ingelheim and Hydra Biosciences provides an excellent opportunity to maximize the potential of novel targets that may offer meaningful improvements in the treatment of chronic kidney diseases and other related diseases and disorders. Boehringer Ingelheim’s long track record of research, development and commercialization success makes them the perfect partner for this program,” said Russell Herndon, President and CEO of Hydra Biosciences.
This marks the second collaboration between Boehringer Ingelheim and Hydra Biosciences as the two companies last year began collaborating to research and develop small-molecule TRPC4/5 inhibitors for the treatment of central nervous system (CNS) diseases and disorders.
“This new collaboration agreement with Hydra Biosciences reflects the importance and value Boehringer Ingelheim places in developing strong research partnerships to discover new treatments for renal diseases and related disorders,” said Dr. Michel Pairet, Senior Corporate Vice President of Research and Non-clinical Development at Boehringer Ingelheim. He added, “We are very excited to be able to continue to work together with Hydra Biosciences. Renal diseases and disorders are of increasing importance to Boehringer Ingelheim as part of our CardioMetabolic Diseases Research area, and our dedicated renal disease research unit based in Ridgefield, CT, USA, is constantly expanding its network of partnerships in this field.”
Under the terms of the collaboration agreement, the companies will work together to identify and advance candidate inhibitors. Boehringer Ingelheim is responsible for the global development and commercialization of the inhibitors that come from the collaboration. Hydra will receive an undisclosed upfront payment, additional research funding, and the Company is eligible to receive milestone payments and tiered royalty payments on future product sales.
About Hydra Biosciences
Hydra Biosciences is a privately-held biopharmaceutical company based in Cambridge, Massachusetts, and develops drugs to treat pain, inflammation, anxiety and other diseases using its expertise in novel ion channels. Hydra Biosciences’ proprietary platforms enable the company to identify and develop drug candidates that address significant unmet medical needs. More information about Hydra Biosciences is available at: www.hydrabiosciences.com.
About Boehringer Ingelheim
The Boehringer Ingelheim group is one of the world’s 20 leading pharmaceutical companies. Headquartered in Ingelheim, Germany, Boehringer Ingelheim operates globally with 142 affiliates and a total of more than 47,400 employees. The focus of the family-owned company, founded in 1885, is researching, developing, manufacturing and marketing new medications of high therapeutic value for human and veterinary medicine.
Taking social responsibility is an important element of the corporate culture at Boehringer Ingelheim. This includes worldwide involvement in social projects, such as the initiative “Making more Health” and caring for the employees. Respect, equal opportunities and reconciling career and family form the foundation of the mutual cooperation. In everything it does, the company focuses on environmental protection and sustainability.
In 2013, Boehringer Ingelheim achieved net sales of about 14.1 billion euros. R&D expenditure corresponds to 19.5% of its net sales. For more information please visit www.boehringer-ingelheim.com
HYDRA BIOSCIENCES CONTACTS:
Russell Herndon, President and CEO
617-374-8800, ext. 105