CLARKSVILLE, Md., Nov. 4 /PRNewswire/ -- Neuronascent, Inc., a privately-held biotechnology company developing novel, neurogenic small-molecule drugs for the treatment of depression, Alzheimer's disease, Parkinson's and other neurodegenerative diseases, announces it has entered into a discovery agreement with ChemRar Pharma, a Russian biotechnology start-up company focusing on small-molecule modulators for developmental pathways and stem cells to treat cancer. Under the terms of the agreement, Neuronascent will screen certain ChemRar proprietary developmental pathway inhibitors utilizing their proprietary drug discovery platform for neurogenesis and neuroprotection. Financial terms of the collaboration were not disclosed.
The agreement matches ChemRar's discovery and translational research focus through scientific collaboration with Neuronascent's success in discovering novel, neurogenic and neuroprotective drug candidates. The companies intend to evaluate co-development opportunities for future commercialization and funding.
"We are proud to start this collaboration with ChemRar Pharma on these studies, highlighting our expertise in the field of neurogenesis, and look forward to the potential of this relationship," notes Dr. Judith Kelleher-Andersson, President and CSO, Neuronascent, Inc.
Nikolay Merkin, CBO of ChemRar Pharma, comments: "We are pleased that Neuronascent will bring high value to our R&D program and expand the scope of our molecules with their unique and well-established stem cell and neurogenesis platform. We look forward to achieving success in this collaboration."
About ChemRar Pharma:
ChemRar Pharma was established in 2007 in Moscow, Russia under the roof of the ChemRar High Tech Center as an innovative oncology start-up. In 2009, ChemRar in-licensed the portfolio of developmental pathway inhibitors from AllaChem and ChemDiv, Inc. (San Diego, CA) and established the R&D collaboration with ChemDiv's Chemical Diversity Research Institute in Moscow to continue preclinical and clinical development for multiple cancer indications.
About Neuronascent, Inc.:
Founded in 2004 by Dr. Judith Kelleher-Andersson, Neuronascent, Inc. discovers and develops first-in-class, small-molecule therapeutics, based on the science of neurogenesis, that target depression, neurodegenerative diseases, including Alzheimer's and Parkinson's, and Down syndrome. The Company is headquartered in Clarksville, MD and has facilities in Rockville and Walkersville, MD. For additional information, please visit www.neuronascent.com.
Safe Harbor Statement
This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as "would," "may," "will," "expects" and other terms with similar meaning. Forward-looking statements are based on current beliefs, assumptions and expectations and speak only as of the date of this release and involve risks and uncertainties that could cause actual results to differ moderately from current expectations.
SOURCE Neuronascent, Inc.
|SOURCE Neuronascent, Inc.|
Copyright©2009 PR Newswire.
All rights reserved