Roche extends option for neurological drug
3 November 2006 00:00 in Pharmaceutical Company Product News
Roche has chosen to renew its option to acquire an exclusive license for a neurological drug developed with Memory Pharmaceuticals.
MEM 3454, the lead compound developed through the alliance between both companies, is focused on treating psychiatric and neurological disorders through the discovery and clinical development of nicontinic alpha-7 receptor agonists.
The decision by was prompted by the completion of phase I work on the compound by Memory Pharmaceuticals that fulfilled pre-defined criteria set out by Roche. As a result of the deal, Roche will pay Memory Pharmaceuticals a milestone payment of $2 million (1.05 million pounds).
David A Lowe, chief scientific officer of Memory Pharmaceuticals, said: "We are pleased that Roche recognises the data that has emerged from our clinical program for MEM 3454, demonstrating the drug candidate's safety profile and cognitive effects."
He added that the payment highlighted Roche's continued dedication to the compound, which could eventually be use in the treatment of schizophrenia and Alzheimer's disease.
Last month Roche announced a collaboration agreement with InterMune for the development and commercialisation that company's hepatitis C (HCV) protease inhibitor program and the identification, development and commercialisation of innovative second-generation HCV protease inhibitors.
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