Navigation Links
Galenea and Otsuka Pharmaceutical Extend & Expand Schizophrenia Research Collaboration
Date:10/5/2008

CAMBRIDGE, Mass. and TOKYO, Oct. 6 /PRNewswire/ -- Galenea Corp. and Otsuka Pharmaceutical Co., Ltd. announced today the extension and expansion of their research and development collaboration. The two companies have been working together since January 2005 to discover and develop novel therapies for schizophrenia and other central nervous system (CNS) diseases. The new agreement calls for a one year extension of the initial five-year alliance and brings the total committed funding for the collaboration to over $75 million.

Mark Benjamin, Chief Executive Officer of Galenea, said, "We are delighted that Otsuka has recognized the substantial progress made by Galenea over the last three years. This partnership is already producing some very exciting results that may one day lead to new and fundamentally better treatments for patients suffering from schizophrenia."

Galenea has made significant advances in several projects within the collaboration, including the progression of several molecules to the lead optimization stage. Each of these compounds represents a potential therapeutic with a novel mechanism of action for treating the impairments in memory and cognition common in schizophrenia and related disorders. With Otsuka's support, Galenea also recently completed the construction of state-of-the-art chemistry labs at their Cambridge facility, complementing their existing capabilities in neurobiology, electrophysiology, high-throughput screening and behavioral pharmacology.

"I am pleased that Otsuka has increased both the time and the resources dedicated to this collaboration," commented Professor Susumu Tonegawa, Ph.D., 1987 Nobel Prize winner in Medicine, professor at the Massachusetts Institute of Technology (MIT), Howard Hughes Medical Institute Investigator, Director of the RIKEN-Picower-MIT Center for Neural Circuit Genetics, and Galenea co-founder.

Otsuka will have exclusive worldwide rights to develop, manufacture and commercialize any development candidates generated during the collaboration. Galenea will receive milestone and royalty payments, or alternatively may participate in profit-sharing. Galenea also retains rights to additional targets and associated compounds as well as to the collaboration's ground-breaking drug screening technologies.

"We are enthusiastic about the continuation of this collaboration with Galenea and see good prospects for the selection of several development candidates in the near term," commented Taro Iwamoto, Ph.D., President and Representative Director of Otsuka Pharmaceutical Co., Ltd. "There are still a number of incompletely defined CNS diseases that afflict patients worldwide, although therapies for these diseases have shown impressive progress in recent years. At Otsuka we have been striving to advance innovative therapies for patients through our antipsychotic agent ABILIFY, along with compounds in earlier phases of development. Through this collaboration with Galenea, we hope to enhance our research in the CNS field, taking advantage of an unconventional point of view and scientific approach at one of the most advanced places in neuroscience to develop next-generation therapies for CNS diseases," added Dr. Iwamoto.

About Otsuka Pharmaceutical Co., Ltd.

Founded in 1964, Otsuka Pharmaceutical Co., Ltd. is a global healthcare company with the corporate philosophy: 'Otsuka -- people creating new products for better health worldwide.' Otsuka researches, develops, manufactures and markets innovative and original products, with a focus on pharmaceutical products for the treatment of diseases and consumer products for the maintenance of everyday health. Otsuka is committed to being a corporation that creates global value, adhering to the high ethical standards required of a company involved in human health and life, maintaining a dynamic corporate culture, and working in harmony with local communities and the natural environment. The Otsuka Pharmaceutical Group comprises 106 companies and employs approximately 33,000 people in 18 countries and regions worldwide. Otsuka and its consolidated subsidiaries earned yen 928.4 billion (approx. US $9.2 billion*) in annual revenue in fiscal year ended in March 2008. For more information on Otsuka please visit the company's web site at http://www.otsuka-global.com.

*Exchange rate as of the end of March 2008.

About Galenea Corp.

Galenea, an emerging biopharmaceutical company based in Cambridge, Massachusetts, is dedicated to enhancing and saving lives through the discovery of novel therapies for CNS diseases. Galenea has licensed technologies developed in the laboratories of Professor Susumu Tonegawa of MIT and Professor Maria Karayiorgou of Rockefeller University (now at Columbia University Medical Center) to generate breakthrough treatments for the memory and cognition impairments associated with schizophrenia and related disorders. For more information about Galenea, please visit the company's website at http://www.galenea.com.


'/>"/>
SOURCE Galenea Corp.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. New Drug Application for Tolvaptan, Otsukas Investigational Novel Oral Treatment for Worsening Heart Failure and Hyponatremia, Accepted by the U.S. Food and Drug Administration
2. Otsuka Pharmaceutical and PDL BioPharma Close Sale of IV Busulfex
3. SomaLogic and Otsuka Enter Into Research Collaboration
4. Vion Pharmaceuticals Pays Interest on 7.75% Convertible Senior Notes
5. Skystar Bio-Pharmaceutical Announces Second Quarter 2007 Results
6. China Biopharmaceuticals Holdings Announces Second Quarter 2007 Financial Results
7. Vion Pharmaceuticals Completes Accrual of 85 Patients to its Pivotal Phase II Trial of Cloretazine(R) (VNP40101M) in Elderly AML
8. XTL Biopharmaceuticals Announces Financial Results for the Six Months Ended June 30, 2007
9. Dragon Pharmaceutical Reports Growth in Sales and Profits during Second Quarter of 2007
10. Cadence Pharmaceuticals Reports Second Quarter 2007 Financial Results
11. Nabi Biopharmaceuticals to Present at Upcoming Industry Conferences
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/11/2016)... 11, 2016  Wellcentive today announced it has ... Oregon -based community care organization (CCO) with ... analytics, quality reporting and care management solutions and ... team of quality managers, analysts and care managers ... groups serving FamilyCare members. ...
(Date:2/11/2016)... , February 11, 2016 ... Corporation ("PositiveID" or "Company") (OTCQB: PSID), a life ... today that its Thermomedics subsidiary, which markets the ... its growth plan in January 2016, including entering ... increasing sequential monthly sales growth, and establishing several ...
(Date:2/11/2016)... ... February 11, 2016 , ... ... a new agreement with Bankok,Thailand-based Global Stem Cells Network (GSCN) to distribute exosome ... Latin American countries, including Mexico, Costa Rica, Dominican Republic, Colombia, Argentina, Nicaragua, Panama, ...
(Date:2/10/2016)... Early-career researchers from Indonesia ... Uganda and Yemen ... Indonesia , Nepal , ... Yemen are being honored for their accomplishments in nutrition, psychiatry, ... mentoring young women scientists who are pursuing careers in agriculture, biology and ...
Breaking Biology Technology:
(Date:2/2/2016)... 2016   Parabon NanoLabs (Parabon) announced ... Research Office and the Defense Forensics and Biometrics ... the company,s Snapshot Kinship Inference software ... generally, defense-related DNA forensics.  Although Snapshot is best ... and ancestry from DNA evidence), it also has ...
(Date:2/1/2016)... -- Rising sales of consumer electronics coupled ... gesture control market size through ... electronics coupled with new technological advancements to drive global ... through 2020   --> Rising ... to drive global touchfree intuitive gesture control market ...
(Date:2/1/2016)... MELBOURNE, Fla. , Feb. 1, 2016  Wocket® smart wallet ( ... actor and television personality, Joey Fatone . Las ... and greet fans. --> Las Vegas , ... --> The new video ad was filmed at the ... Joey appeared at the Wocket booth to meet and greet fans. ...
Breaking Biology News(10 mins):