December 24, 2009
Asahi Kasei Pharma Corp.



Result of arbitration with CoTherix, Inc. of the US
 
A final ruling has been issued in arbitration proceedings between Asahi Kasei Pharma and CoTherix regarding a license agreement for CoTherix to develop fasudil, a rho-kinase inhibitor discovered and owned by Asahi Kasei Pharma.

In June 2006 the two parties concluded a license agreement whereby Asahi Kasei Pharma granted CoTherix rights for the development and commercialization of fasudil. In January 2007 CoTherix discontinued the development of fasudil, and in October 2007 Asahi Kasei Pharma initiated arbitration proceedings with the International Chamber of Commerce in California seeking compensation for breach of the terms of the license agreement. In its final ruling, the arbitration panel has ordered CoTherix to pay Asahi Kasei Pharma approximately US$91 million.

Asahi Kasei Pharma is now examining the details of this ruling and the effect the ruling will have on its financial results. The financial effect of the ruling will be disclosed upon final confirmation.

CoTherix, Inc.
  CoTherix is based in South San Francisco, California, USA. It has sold Ventavis for pulmonary hypertension since 2005. In January 2007 CoTherix was acquired by Actelion Ltd. of Switzerland through a US subsidiary.
   
Rho-kinase
  Rho-kinase is a phosphorylating enzyme involved in intracellular signaling.  It has drawn attention in recent years as a biologically functional molecule for control of the constriction and relaxation vascular smooth muscle.  Vasoconstriction is accentuated when rho-kinase present in vascular smooth muscle becomes abnormally active, resulting in impairment of tissue function due to insufficient blood flow.  As a rho-kinase inhibitor, fasudil suppresses vasoconstriction while enabling improvement to the accompanying tissue damage.
 
 
 

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