Navigation Links
Roche Exercises its Option to Further Develop and Commercialize Memory Pharmaceuticals' Nicotinic Alpha-7 Agonist, MEM 3454

-Memory Receives $6 Million Milestone Payment-

-Memory to Host Conference Call at 9:00 a.m. EDT Today-

MONTVALE, N.J. and BASEL, Switzerland, May 2 /PRNewswire-FirstCall/ -- Memory Pharmaceuticals Corp. (Nasdaq: MEMY) and Roche (SWX: ROG) today announced that Roche has exercised its option to further develop and commercialize Memory Pharmaceuticals' lead nicotinic alpha-7 agonist drug candidate, MEM 3454, for neurological and psychiatric disorders. Roche's exercise of its option for MEM 3454 triggers a $6 million milestone payment and entitles Memory Pharmaceuticals to future payments upon the achievement of additional milestones and royalties on product sales, including a $17 million milestone payment upon the completion of the ongoing Phase 2a study in cognitive impairment associated with schizophrenia (CIAS). In addition, Memory Pharmaceuticals retains an option to co-promote MEM 3454 in the United States.

"We are excited that Roche shares our enthusiasm for MEM 3454 and its potential to address the cognitive deficits associated with debilitating CNS disorders," stated Vaughn M. Kailian, President and Chief Executive Officer of Memory Pharmaceuticals. "We have aggressively advanced MEM 3454 through early-stage clinical trials, including a positive Phase 2a trial in Alzheimer's disease. We believe that Roche's continued commitment to the program, together with its expertise in later-stage clinical development and commercialization, will provide the support and capabilities to realize the full potential of this compound."

In a recently completed Phase 2a study in Alzheimer's disease patients, MEM 3454 demonstrated a statistically significant effect on multiple measures of cognition. The compound is currently being evaluated in a Phase 2a trial in CIAS, with top-line results expected in the fourth quarter of 2008. The trial is expected to enroll approximately 160 patients and is designed to assess the safety, tolerability and cognitive effects of three doses of MEM 3454 in patients with CIAS. In addition, Memory Pharmaceuticals and Roche recently expanded their schizophrenia development program for MEM 3454 to include a biomarker study, which will be funded by Roche. Memory Pharmaceuticals expects to initiate the biomarker trial this summer, with results expected by early 2009.

MEM 3454 is a partial agonist of the nicotinic alpha-7 receptor, a highly specialized receptor found in the central nervous system. Compounds acting on this receptor could be beneficial in the treatment of Alzheimer's disease and schizophrenia, as well as other psychiatric and neurological disorders.

Conference Call Information

Memory Pharmaceuticals will hold a conference call today, May 2, 2008 at 9:00 a.m. EDT to discuss this announcement. The conference call will also be broadcast live from the "Investors" section of the Company's website. Memory Pharmaceuticals' senior management will host the conference call. Investors and other interested parties may access the call as follows:

Date: Friday, May 2, 2008

Time: 9:00 a.m. EDT

Telephone (U.S.): 866.314.4483

Telephone (international): 617.213.8049

Participant Passcode: 38691567

Webcast: under the

"Investors" section

An audio replay of the conference call will be available from 11:00 a.m. EDT on Friday, May 2, 2008, until Friday, May 9, 2008. To access the replay, please dial 888.286.8010 (U.S.) or 617.801.6888 (international) and enter passcode number 95627100. An audio replay of the conference call will also be available under the "Investors" section of the Company's website during the same period.

About Memory Pharmaceuticals

Memory Pharmaceuticals Corp., a biopharmaceutical company, is focused on developing innovative drugs for the treatment of debilitating CNS disorders, many of which exhibit significant impairment of memory and other cognitive functions, including Alzheimer's disease and schizophrenia. For additional information, please visit our website at

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. All statements, other than statements of historical facts, regarding management's expectations, beliefs, goals, plans or Memory Pharmaceuticals' prospects, future financial position, future revenues and projected costs should be considered forward-looking. Readers are cautioned that actual results may differ materially from projections or estimates due to a variety of important factors, including the outcome of clinical trials of Memory Pharmaceuticals' drug candidates and whether they demonstrate these candidates' safety and effectiveness; the risks and uncertainties associated with: obtaining additional financing to support Memory Pharmaceuticals' R&D and clinical activities and operations; obtaining regulatory approvals to conduct clinical trials and to commercialize Memory Pharmaceuticals' drug candidates; Memory Pharmaceuticals' ability to enter into and maintain collaborations with third parties for its drug development programs; Memory Pharmaceuticals' dependence on its collaborations and its license relationships; achieving milestones under Memory Pharmaceuticals' collaborations; Memory Pharmaceuticals' dependence on preclinical and clinical investigators, preclinical and clinical research organizations, manufacturers and consultants; protecting the intellectual property developed by or licensed to Memory Pharmaceuticals; and Memory Pharmaceuticals' ability to maintain listing on the Nasdaq Global Market. These and other risks are described in greater detail in Memory Pharmaceuticals' filings with the Securities and Exchange Commission. Memory Pharmaceuticals may not actually achieve the goals or plans described in its forward-looking statements, and investors should not place undue reliance on these statements. Memory Pharmaceuticals disclaims any intent or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

SOURCE Memory Pharmaceuticals Corp.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine technology :

1. Roche Gains Access to Important Oncology Target With Potential for Treating Major Cancers Such as Breast and Lung; First Drug Candidate in Phase I Clinical Testing
2. MacroChem Announces Presentation of Pexiganan Phase 3 Study Results for Topical Treatment of Diabetic Foot Infection
3. Memory Pharmaceuticals & Roche Expand Development Program for MEM 3454 in Schizophrenia
4. Roche and Pharmasset To Present the R7128 Monotherapy Resistance Profile
5. Roche responds to announcement of IDEAL hepatitis C trial results
6. Roche Submits Application for FDA Approval of ACTEMRA(R) for the Treatment of Rheumatoid Arthritis
7. Two Pivotal Phase III Studies for Roches ACTEMRA(TM) (tocilizumab) Demonstrate Significant Improvement in Rheumatoid Arthritis Symptoms
8. Roches Investigational Polymerase Inhibitor, Combined with PEGASYS(R) and COPEGUS(TM), Shows Potent Antiviral Activity in Treatment of Chronic Hepatitis C at Four Weeks
9. Roche Diagnostics HIV Viral Load Test Used in Clinical Trials for Isentress, a New Class of HIV Drug
10. Roche Announces Positive Results in Solid Tumors Using Human Monoclonal Antibody Against IGF-1R (R1507)
11. MacroChem Acquires Rights to Pexiganan, a Novel Topical Anti-Infective for Treatment of Diabetic Foot Infections, From Genaera
Post Your Comments:
(Date:6/24/2016)... June 24, 2016 The Academy of Managed ... recommendations that would allow biopharmaceutical companies to more ... that make formulary and coverage decisions, a move that ... new medicines. The recommendations address restrictions in ... on the drug label, a prohibition that hinders decision ...
(Date:6/24/2016)... PUNE, India , June 24, 2016 ... "Pen Needles Market by Type (Standard Pen Needles, Safety ... 12mm), Therapy (Insulin, GLP-1, Growth Hormone), Mode of Purchase ... published by MarketsandMarkets, This report studies the market for ... is expected to reach USD 2.81 Billion by 2021 ...
(Date:6/23/2016)... HOUSTON , June 23, 2016  MedSource ... platform as its e-clinical software solution of choice.  ... the best possible value to their clients by ... nowEDC.  The preferred relationship establishes nowEDC as the ... pricing for MedSource,s full-service clients.  "nowEDC has long ...
Breaking Medicine Technology:
(Date:6/26/2016)... N.J. (PRWEB) , ... June 27, 2016 , ... Quality ... sources, yet in many ways they remain in the eye of the beholder, according ... (EBO), a publication of The American Journal of Managed Care. For the full issue, ...
(Date:6/26/2016)... ... June 26, 2016 , ... Many women are ... with endometriosis. These women need a treatment plan to not only alleviate symptoms ... can help for preservation of fertility and ultimately achieving a pregnancy. The specialists ...
(Date:6/25/2016)... ... June 25, 2016 , ... First Choice Emergency ... named Dr. Sesan Ogunleye, as the Medical Director of its new Mesquite-Samuell Farm facility. ... Director of our new Mesquite location,” said Dr. James M. Muzzarelli, Executive Medical Director ...
(Date:6/24/2016)... ... 2016 , ... A recent article published June 14 on E ... goes on to state that individuals are now more comfortable seeking to undergo not ... as calf and cheek reduction. The Los Angeles area medical group, Beverly Hills Physicians ...
(Date:6/24/2016)... ... ... Global law firm Greenberg Traurig, P.A. announced that 20 Florida attorneys are ... for this recognition are considered among the top 2 percent of lawyers practicing within ... of this year’s Legal Elite Hall of Fame: Miami Shareholders Mark D. Bloom, ...
Breaking Medicine News(10 mins):