Surgery News

Cornerstone reacquires all development, commercial rights to HMGB1 related technology from MedImmune

January 02, 2016

Cornerstone intends to identify a partner in order to move the development of this technology platform forward.  The Company has not included any potential financial gain related to a possible out-license agreement for the HMGB1 protein technology in its 2010 guidance.

"While our strategic focus continues to be on acquiring and developing products for the respiratory and hospital markets, we believe that reacquiring these rights is a unique low-risk, high-reward opportunity for Cornerstone," said Craig A. Collard, Cornerstone's President and Chief Executive Officer.  "Several parties have expressed to us their interest in further developing this valuable platform.  We look forward to appropriately monetizing this asset, which would allow us to enhance our already strong balance sheet for possible product acquisition opportunities, as well as help fund the continued development of our internal drug pipeline."

SOURCE Cornerstone Therapeutics Inc.