Syntaxin Announces its Partner Allergan Enters Phase II Trials With Re-Targeted Endopeptidase Drug

March 2, 2011

OXFORD, England, March 2, 2011 /PRNewswire/ — Syntaxin, a biotechnology
company developing novel biopharmaceuticals to control cell secretion, today
announces its partner Allergan, Inc has initiated two Phase II trials to
evaluate the safety and efficacy of its re-targeted endopeptidase drug
candidate AGN-214868. The Phase II trials will be focused on patients with
post herpetic neuralgia (PHN) and overactive bladder. With the initiation of
Phase II trials, Syntaxin’s drug technology platform reached a significant
point of development and triggered an undisclosed milestone payment. Allergan
provided an update in its Q4 2010 earnings call on 2nd February 2011.

AGN-214868 was discovered under the collaboration using Syntaxin’s
proprietary discovery platform. Under this agreement, Allergan is responsible
for the clinical development, marketing and sales of identified drug
candidates. Syntaxin receives milestone payments and royalties on product

Dr Melanie Lee, CEO of Syntaxin, commented: “The progression of
AGN-214868 into Phase II trials is a very important milestone for Syntaxin
and validates the strength of our technology platform. The additional
therapeutic application of AGN-214868 for overactive bladder widens the
application of the re-targeted endopeptidase drug candidate across two
distinctively separate disease markets of significant unmet medical need. The
versatility of our Targeted Secretion Inhibitors (TSI) platform has enabled
Syntaxin to develop exciting proprietary pre-clinical candidates outside
pain, in areas such as endocrinology and oncology. This provides Syntaxin
with a strong foundation to develop additional value from future partnerships
with other pharmaceutical and biotechnology companies.”

Notes for Editors

About Syntaxin (http://www.syntaxin.com)

Syntaxin discovers and develops a new class of biopharmaceuticals which
treat disease through selective inhibition of cell secretory processes. It is
developing cell secretion inhibitors for the treatment of a range of
endocrine diseases, including acromegaly.

Syntaxin’s new Executive Management, appointed in February 2010, brings a
wealth of industry experience to the Company. Chief Executive Officer, Dr

Melanie Lee, spent a decade in research with GlaxoSmithKline and subsequently
held leadership positions at Celltech and UCB. Chief Business Officer, Dr

Nigel Clark, was formerly Vice President Business Development with Vernalis
and has a strong track record in building strategic alliances. Dr Jon Court,
Chief Development Officer, was previously founder and CEO of Fulcrum Pharma,
an international contract drug development business, following R&D roles at
Roche and Wellcome.

Syntaxin was founded in late 2005 through a spinout of intellectual
property and scientists from the Health Protection Agency, and benefits from
15 years of research in the field of bacterial toxin engineering. The company
owns dominant patents and know how in the design, manufacture and use of
novel cell TSI based on engineered botulinum toxins. It has established a
strong IP base with over 40 granted patents covering the platform and
products. It is backed by a blue chip investor base including: Abingworth,
Lundbeckfond Ventures, LSP, Ipsen, JJDC, Quest, Seventure, and SR One.

Syntaxin’s Targeted Secretion Inhibitors (TSI) technology platform

Syntaxin’s TSI products are biological molecules synthesized in microbial
cell culture, which selectively bind to their chosen targeted cells and
become internalised to deliver endopeptidases into the cell’s cytoplasm,
preventing further vesicular secretion. A single dose provides an extended
duration of action from weeks to months.

Allergan Forward-Looking Statements

This press release contains “forward-looking statements,” including, but
not limited to, the statements by Dr Melanie Lee and other statements
regarding clinical development, marketing and sales of Allergan’s Re-Targeted
Endopeptidase Drug candidate AGN-214868. These statements are based on
current expectations of future events. If underlying assumptions prove
inaccurate or unknown risks or uncertainties materialize, actual results
could vary materially from Allergan’s expectations and projections. Risks and
uncertainties include, among other things, general industry and
pharmaceutical market conditions; technological advances and patents attained
by competitors; challenges inherent in the research and development and
regulatory processes; challenges related to product marketing, such as the
unpredictability of market acceptance for new products and/or the acceptance
of new indications for such products; inconsistency of treatment results
among patients; general economic conditions; and governmental laws and
regulations affecting domestic and foreign operations. Allergan expressly
disclaims any intent or obligation to update these forward-looking statements
except as required by law. Additional information concerning the
above-referenced risk factors and other risk factors can be found in
Allergan’s public periodic filings with the Securities and Exchange
Commission, including the discussion under the heading “Risk Factors” in
Allergan’s 20010 Annual Report on Form 10-K. Additional information about
Allergan is available at http://www.allergan.com or you can contact the
Allergan Investor Relations Department by calling +1-714-246-4636.

    Contact Details

    Syntaxin Ltd
    Nigel Clark
    Tel: +44(0)1235-552161
    Email: nigel.clark@syntaxin.com


    Capital MS&L
    Mary Clark, Justine Lamond & Hollie Vile
    Tel: +44-(0)20-7307-5337
    Email: Syntaxin@capitalmsl.com

SOURCE Syntaxin

Source: newswire

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