Grünenthal acquires Mestex AG and its Phase-III-ready investigational medicine MTX-071 for the treatment of pain associated with osteoarthritis of the knee

Aachen, Germany (ots) -

- With the acquisition of Mestex AG, Grünenthal secures global rights for an
attractive late-stage asset that could offer an innovative therapy option for
millions of patients affected by pain related to osteoarthritis of the knee.
- MTX-071 (resiniferatoxin) is a highly potent Transient Receptor Potential
Vanilloid 1 (TRPV1) agonist. Its administration can reversibly defunctionalise
TRPV1-expressing nociceptors. This can result in long lasting pain relief.

Today, Grünenthal has announced the acquisition of Mestex AG through the
takeover of all of its shares and options. Mestex AG is a Swiss biotech company
that has developed the innovative investigational medicine MTX-071
(resiniferatoxin) for the intra-articular treatment of pain associated with
osteoarthritis of the knee. The investigational medicine is currently concluding
Phase II of clinical development and is about to enter Phase III. Initial data
showed a long-lasting and significant analgesic effect and functional
improvements compared to placebo (saline injection), as well as a favourable
safety profile.

"Osteoarthritis is a progressive condition that currently cannot be cured.The
inflamed, swollen and painful joints lead to limitation on mobility of the
affected patients and may impact their quality of life significantly. Millions
of patients currently receive intra-articular corticosteroids or need to undergo
knee replacement surgery as last remaining treatment option," says Jan Adams,
MD, Chief Scientific Officer Grünenthal. "With MTX-071, we aim to provide these
patients with a well tolerable, non-opioid therapy option that provides
long-lasting pain relief and functional improvement of the affected joints."

Grünenthal is currently preparing two pivotal Phase III studies to investigate
the efficacy, safety and tolerability of MTX-071 in patients with pain
associated with osteoarthritis of the knee. The studies will start in 2021 and
they are part of a global development programme aimed at meeting the
requirements for approval in the EU, the US, Japan and China. The mechanism of
action is well validated by clinical studies with other TRPV1 agonists.

"Through the acquisition of Mestex, Grünenthal is well positioned to tap into
the global osteoarthritis market. Over 50 million people are affected by
osteoarthritis of the knee across the US and the EU." says Gabriel Baertschi,
Chief Executive Officer Grünenthal. "We are confident in the mechanism of action
of MTX-071 and will explore its potential for the treatment of osteoarthritis