ZEALAND INCREASES FOCUS ON GAP JUNCTIONS

Zealand Pharma A/S, Copenhagen, intends to focus even more on discovering and developing new drugs based on the company’s special gap junction platform.

Gap junctions are small channels, which ensure intercellular communication in a variety of tissues, and which have relevance to a number of diseases. Zealand has developed compounds, which influence intercellular communication, and thus can be developed into drugs.

As a consequence of a revised business plan Zealand will concentrate its resources on research and development within the gap junction field.

Zealand will establish licence agreements regarding the continued development and marketing of two projects not based on gap junctions (ZP10 for Type II Diabetes and ZP120 for Congestive Heart Failure) with major pharmaceutical companies.

As a result of the change in focus the company has decided to reduce the staff. The reduction affects mainly employees, who are not directly involved in the gap junction field.

Zealand is currently in negotiations about new funding with the company’s present shareholders and potential new investors.

Zealand Pharma is a Danish biopharmaceutical company focusing on discovery and development of innovative drugs, which significantly improve existing treatment. The focus of our research and development is intercellular communication and modification of peptides. The company, which is located close to Copenhagen, was established in 1998 and today employs 40 people. Since 1999 we have advanced 2 drug candidates from research to clinical development and 1 other drug candidate to pre-clinical development.

For further information please contact:

Eva Steiness,
President and CEO,
Zealand Pharma
Phone: +45 4328 1210
Email: est@zp.dk

Jakob Dynnes Hansen,
Vice President Finance and Licensing
Zealand Pharma
Phone: +45 4328 1209
Email: jdh@zp.dk