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Foundation Announces $25 Million Expanded Collaboration with PTC Therapeutics

July 16, 2008

PTC Therapeutics, Inc. (PTC) and Cystic Fibrosis Foundation Therapeutics, Inc. (CFFT), the nonprofit affiliate of the Cystic Fibrosis Foundation, today announced the expansion of an existing collaboration to support development of PTC124, the PTC’s new investigational oral drug for the treatment of cystic fibrosis caused by nonsense mutations. PTC will receive up to $25 million from CFFT in support of key Phase 2b clinical trials for PTC124 in CF.
 
“We are pleased to expand our collaboration with PTC Therapeutics on the development of the therapy PTC124,” said Robert J. Beall, Ph.D., president and CEO of the Cystic Fibrosis Foundation. “The encouraging data from the Phase 2a studies indicate that PTC may become a very important drug for the treatment of CF in the 10 percent of patients who carry nonsense mutations. These exciting results lead us to believe PTC124 has the potential to be one of the first oral drugs on the market to address the basic defect in cystic fibrosis.”

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The Cystic Fibrosis Foundation is an accredited charity of the Better Business Bureau.