April 23, 2014 11:48 PM ET

Biotechnology

Company Overview of Afraxis, Inc.

Company Overview

Afraxis, Inc., a biotechnology company, discovers and develops drugs to treat central nervous system disorders. It offers drugs to treat schizophrenia, Alzheimer's disease, fragile X syndrome, and autism spectrum disorders. The company also develops proprietary PAK inhibitors to demonstrate clinical proof-of-concept in fragile X and evaluates PAK inhibitors in various CNS disorders, including schizophrenia and Alzheimer's disease. Afraxis, Inc. was founded in 2007 and is based in San Diego, California.

5626 Oberlin Drive

Suite 100

San Diego, CA 92121

United States

Founded in 2007

Phone:

858-768-7800

Fax:

858-200-0821

Key Executives for Afraxis, Inc.

Chief Executive Officer and President
Age: 37
Founder and Chairman
Age: 51
Co-founder and Director of Neurobiology
Vice President of Medicinal Chemistry
Scientific Advisor
Compensation as of Fiscal Year 2013.

Afraxis, Inc. Key Developments

Sunovion Pharmaceuticals Inc. and Afraxis, Inc. Announces Novel Drug Discovery Partnership

Sunovion Pharmaceuticals Inc. and Afraxis, Inc. announced that they have signed a partnership agreement to utilize the unique Enhanced Spine Platform (ESP) developed by Afraxis, Inc. to accelerate Sunovion's preclinical central nervous system (CNS) drug discovery process. The use of this proprietary platform will allow Sunovion to identify novel CNS compounds that are potentially superior to existing treatments. While the full financial terms have not been disclosed, Afraxis will be eligible for certain milestone payments for each compound through phase 2 clinical trial initiation.

Afraxis, Inc. Announces Management Appointments

Afraxis, Inc. announced that it has appointed Carmine Stengone as the company's president and chief executive officer. The company has also appointed Christopher Rex, Ph.D. as chief scientific officer. In his previous role as vice president of corporate development for Afraxis Holdings, Mr. Stengone led and executed a $187.5 million license agreement with Roche's subsidiary, Genentech. Dr. Rex, 34, currently leads scientific operations at Afraxis Inc. and oversees the development of the ESP platform and other technologies. Mr. Stengone, 37, has more than 14 years of experience in the pharmaceutical and biotechnology industries, including positions in finance, strategic planning, corporate development, licensing, alliance management and venture funding.

Afraxis, Inc. Enters into Global Licensing Agreement with Genentech, Inc

Afraxis, Inc. announced that it has entered into a global licensing agreement with Genentech, Inc. to develop compounds for an undisclosed novel target. Under the terms of the agreement, Genentech will have exclusive, worldwide rights to develop and commercialize Afraxis' proprietary compounds. Afraxis is eligible to receive upfront, research, development and commercialization milestone payments, together totaling up to $187.5 million. Full financial terms have not been disclosed.

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