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EnVivo and Mitsubishi Tanabe Enter License Agreement on EVP-6124 in Japan, Korea, Taiwan and Other Asian Countries
Date:4/1/2009

WATERTOWN, Mass., April 1, /PRNewswire/ -- EnVivo Pharmaceuticals today announced an agreement with Mitsubishi Tanabe Pharma Corporation (MTPC) for the development and commercialization of its lead product candidate, EVP-6124, in Japan and several other Asian countries.

EVP-6124 is EnVivo's novel alpha-7 nicotinic acetylcholine receptor agonist currently in development for cognition enhancement in patients with Alzheimer's disease and Schizophrenia. EnVivo recently reported positive results of its clinical bio-marker study in Schizophrenia patients in which EVP-6124 showed a significant improvement in several sensory and cognition markers. These evoked response biomarkers correlate with the degree of impairment of awareness, cognition and judgment, as well as the overall clinical condition of patients with Schizophrenia. EnVivo's clinical study in Alzheimer's patients, both naive and already on acetylcholine esterase inhibitors, is ongoing.

"MTPC is one of Japan's largest and most respected pharmaceutical companies," said Kees Been, EnVivo's chief executive officer, "and we believe that its experience in CNS-related diseases in general and its commitment in Alzheimer's disease and Schizophrenia makes MTPC an ideal partner for EVP-6124 in the Japan and Asia markets. With the strength of EnVivo's clinical data and MTPC's additional financial and development resources, we hope this partnership will accelerate the availability of a new and valuable therapy to Alzheimer's and Schizophrenia patients in the MTPC territory."

Collaboration arrangements

Under the terms of the agreement, MTPC has obtained exclusive rights to develop and commercialize EnVivo's alpha-7 nicotinic acetylcholine receptor agonists such as EVP-6124 in Japan, Korea, Taiwan, Indonesia and several other Asian markets. MTPC plans to initiate Phase I clinical trials within 2010. EnVivo will receive an initial license payment and is
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SOURCE EnVivo Pharmaceuticals
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