Medivir Rises on Plans for Hepatitis C Study: Stockholm Mover
Medivir AB (MVIRB), a Swedish biotech company, rose the most in eight months after announcing a mid-stage study for a hepatitis C treatment combining simeprevir with VX-135, developed by Vertex Pharmaceuticals Inc. (VRTX)
The shares rose as much as 12 percent, the biggest intraday gain since February, and were up 11 percent at 67.25 kronor as of 3:11 p.m.
The proof-of-concept study will start early next year to investigate tolerability, safety and viral cure rates after a 12-week period, Stockholm-based Medivir said today in a statement. Simeprevir, developed by Johnson & Johnson with Medivir, is a hepatitis C treatment now in late-stage studies and is also known as TMC435. VX-135 is designed to attack the hepatitis C virus in a different way, Medivir said.
“This study will broaden our understanding of simeprevir, which we believe has the necessary characteristics to become a key component of future hepatitis C treatment regimens,” Charlotte Edenius, who heads Medivir’s research and development department, said in the statement.
Johnson & Johnson and Vertex will share the costs for the study equally and there are no up-front or milestone payments connected to the agreement.
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