Orexo signs an exclusive development agreement for its OX17 program

Orexo signs an exclusive development agreement for its OX17 program

Orexo has signed an exclusive development agreement with a large healthcare
company, providing for joint development within Orexo's OX17 program for
gastroesophageal reflux disease (GERD), and will be discontinuing all other
licensing discussions for Ox17.

During this development work, Orexo will continue negotiations to enter into an
appropriate global exclusive license agreement including the whole of Orexo's
Ox17 program and related intellectual property. This license agreement is
anticipated during 2009.  The financial terms were not disclosed.


Torbjörn Bjerke, President and CEO of Orexo
“I am delighted to announce this new development agreement, although we are
unable to disclose many details at this time.  We expect to be able to create a
first choice therapy for GERD with this partner, and will make further
announcements at the appropriate time”.



For further information, contact:
Torbjörn Bjerke, President and CEO, Orexo
Tel: +46 (0)708-66 19 90
E-mail: torbjorn.bjerke@orexo.com 

Claes Wenthzel, Executive Vice President and CFO, Orexo 
Tel: +46 (0)708-62 01 22
E-mail: claes.wenthzel@orexo.com 



About GERD
Gastroesophageal reflux disease (GERD) is a chronic disease that causes
recurrent acid reflux, commonly known as “heart burn.” Symptoms occur when acid
backs up into the oesophagus from the stomach. Approximately 15-20 percent of
the adult population is believed to suffer from GERD. The illness is currently
treated primarily with acid-inhibiting products, some of which are histamine
2-receptor antagonists and some of which proton pump inhibitors. In 2006, the
market for the former category was valued at USD 3 billion and the latter
category at over USD 25 billion according to IMS Health data.


About Orexo
Orexo is a pharmaceutical company focusing on developing treatments for pain and
inflammation. The company has three products on the market as well as a
competitive product portfolio in late stages of development. Sales and product
development are mainly carried out through worldwide partnership agreements with
larger pharmaceutical companies. Orexo has 127 employees, and has its head
office located in Uppsala, Sweden. More information can be found at
www.orexo.com





Note:
This is information that Orexo AB (pub) is required to disclose pursuant to the
Swedish Securities Markets Act. The information was provided for public release
on February 9, 2009 at 08:00 CET.