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Galenea to Receive $6 Million From The Stanley Medical Research Institute to Progress Pro-Cognitive Drug Discovery and Development Program
Date:4/26/2012

CAMBRIDGE, Mass., April 26, 2012 /PRNewswire/ -- Galenea Corp., a leader in the rapidly emerging field of synaptic transmission, today announced that The Stanley Medical Research Institute (SMRI) will provide $6 million in an equity investment to support the development of Galenea's innovative pro-cognitive discovery program and the selection of a clinical candidate for the treatment of schizophrenia and other psychiatric disorders.  The funding is expected to advance the therapeutic candidate through the submission of an Investigational New Drug (IND) application to the U.S. Food and Drug Administration.  The program includes a proteomics collaboration with the Broad Institute as part of a broader effort being undertaken by The Stanley Center for Psychiatric Research.  This center was created by a grant from SMRI. Dr. Edward Scolnick, who founded the Broad Institute's Psychiatric Disease Program, currently serves as the Center's Chief Scientific Officer.  The proteomics collaboration will be led at the Broad Institute by Dr. Steven Carr, director of the Proteomics Platform.

Mark Benjamin, DSc, President and CEO of Galenea, said "We are delighted about this funding from SMRI and the collaboration with the Broad Institute.  A core objective of SMRI is the development of treatments for schizophrenia, and we therefore view their investment in Galenea as an endorsement of our cutting-edge approach to identifying novel therapeutics. We truly appreciate the support."

Galenea's proprietary technology, the MANTRA™ (Multiwell, Automated NeuroTRansmission Assay) system, enables direct high throughput screening of synaptic function in cultured primary neurons from mice and rats, and in neurons derived from human induced pluripotent stem cells.  Changes in synaptic function are now believed to play a central role in many psychiatric, neurological and neurodegenerative diseases. Galenea is using the MANTRA™ system t
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SOURCE Galenea Corp.
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