Forendo Pharma signs important deal with Novartis

Forendo Pharma, a Finland-based clinical-stage drug development portfolio company of Karolinska Development (Nasdaq OMX: KDEV), today announced the signing of a license and collaboration agreement with Swiss pharma giant Novartis (NOVN: VX).

The joint research collaboration is aimed at the identification of novel drugs for the treatment of chronic liver diseases. Novartis receives a worldwide exclusive license to drug candidates generated under the collaboration.

Forendo says it has world leading experience in drug discovery and development of inhibitors of the HSD17B (17-beta-hydroxysteroid dehydregonase) enzyme family. These enzymes demonstrate significant potential in multiple disease areas beyond Forendo's own women's health focused programs. This is a diverse family of enzymes that regulate hormone action in specific tissues and where Forendo, together with its' close academic collaborators, has its core competence and leading experience. Forendo's lead program, HSD17B1 inhibitor FOR-6219, targeted for endometriosis, is in Phase Ib clinical studies.