SOUTH PLAINFIELD, N.J., Aug. 8, 2013 /PRNewswire/ -- PTC Therapeutics, Inc. (NASDAQ: PTCT) today announced the selection of a development candidate in its spinal muscular atrophy (SMA) collaboration with Roche and the SMA Foundation. The achievement of the milestone triggers a $10 million payment to PTC from Roche.
"We are excited about this important achievement in our SMA program", stated Stuart Peltz, Ph.D., Chief Executive Officer of PTC Therapeutics. "This program exemplifies PTC's technology platform and its chemistry and biology expertise applied in an area of great unmet medical need. We are grateful for the exceptional commitment and dedication from our PTC team, as well as from our partners, Roche and the SMA Foundation. The discovery and advancement of a potential new treatment for SMA is a significant milestone for SMA patients and their families."
SMA is caused by a missing or defective SMN1 gene, which results in reduced levels of the survival motor neuron (SMN) protein. It is a genetic neuromuscular disease responsible for the early death of motor neuron cells within the spinal cord leading to muscle atrophy and eventually death in the most severe form of the disease. The oral small molecule compounds in the program target the underlying cause of the disorder by increasing SMN protein levels in the nervous system, muscles, and other tissues. It is estimated that SMA affects approximately 10,000 to 25,000 children and adults in the United States, and that between one in 6,000 and one in 10,000 children are born with this rare disorder.
Luca Santarelli, Head of Neuroscience and Small Molecule Researc
|SOURCE PTC Therapeutics, Inc.|
Copyright©2012 PR Newswire.
All rights reserved