Xention and Grünenthal enter Drug Discovery Collaboration in Ion Channel Research

February 15, 2011. CAMBRIDGE, UK:

Research collaboration to focus on development of novel pain therapeutics.

XENTION LTD., the Cambridge-based biopharmaceutical company specialising in the discovery and development of ion channel-modulating drugs, announced today that it has entered into a Research Agreement with the Grünenthal Group headquartered in Aachen, Germany (“Grünenthal”).

Under the terms of the Agreement, Xention and Grünenthal will combine their respective expertise in ion channel drug discovery and pain therapy to collaborate in the identification of new drugs to treat chronic pain. Xention will apply its proprietary ion channel drug discovery platform to the design, synthesis and in vitro assessment of small molecules which target an ion channel of key pathophysiological importance in pain and against which selective ligands have not previously been developed. Grünenthal will add key expertise to all discovery aspects and assume responsibility to (pre)-clinical development and worldwide commercialization of potential new pharmaceutical products arising from the collaboration.

Grünenthal will fund the two-year research programme in its entirety, and Xention will also receive an upfront fee and be eligible for milestone fees on meeting specified discovery objectives and on the achievement of development and regulatory goals. “We look forward to working with Xention and to accessing the wide range of ion channel drug discovery technologies Xention possesses. We anticipate that the collaboration will result in the identification of novel drugs with high clinical and commercial potential” said Prof. Eric-Paul Paques, President Grünenthal Innovation & Chief Alliance Officer, Vice Chairman of the Corporate Management Board of the Grünenthal Group.

“We are very pleased to be collaborating with Grünenthal” said Tim Brears, Xention’s Chief Executive. “Grünenthal is recognised as a world leader in the development of pain therapeutics, and we believe that pooling our expertise with Grünenthal will result in the development of an exciting class of new medicines in this area of substantial unmet medical need.”

For further information, please contact: Tim Brears +442078613838.

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