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TG Therapeutics, Inc. (TGTX) And Rhizen Pharmaceuticals Announce Partnership To Co-Develop And Commercialize TGR-1202

TG Therapeutics is a clinical-stage biopharm company whose strategy is to acquire, develop, and commercialize pharmaceutical products for the treatment of cancer and other underserved therapeutic needs. In line with this strategy, TG and Rhizen Pharmaceuticals S A today announced their exclusive global agreement to co-develop and commercialize Rhizen's lead product candidate, TGR-1202.

"We are excited to enter into this collaboration with Rhizen Pharmaceuticals, whose innovative pre-clinical development program has yielded an impressive portfolio of PI3K delta inhibitors that we are eager to advance into development," Michael S. Weiss, executive chairman and Interim CEO of TG stated in the press release. "TGR-1202 has already demonstrated encouraging pre-clinical activity, and will serve to expand our pipeline as we seek to develop much needed therapies for patients suffering from hematologic malignancies."

The companies will jointly develop the product on a worldwide basis (excluding India), with an initial focus on indications in the area of hematologic malignancies and autoimmune disease. Additionally, Rhizen will contribute backup molecules, creating several opportunities for TG to develop differentiated therapies against the aforementioned complications.

Rhizen will maintain rights to manufacture and supply the product to TG; TG will be responsible for all clinical and regulatory development for TGR-1202 globally.

The companies said they expect to file an IND for TGR-1202 by the end of 2012.

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