Synaptic Pharmaceutical Licenses Compounds To Procter & Gamble
PARAMUS, N.J., July 10 /PRNewswire-FirstCall/ -- Synaptic Pharmaceutical Corporation (Nasdaq: SNAP - News), a leading drug discovery company utilizing G protein-coupled receptors (GPCRs) as targets for novel therapeutics, today announced the granting of an exclusive patent license to Procter & Gamble Pharmaceuticals, Inc., a division of Procter & Gamble Health Care (NYSE: PG - News). The license covers two of Synaptic's alpha-2 adrenergic receptor compounds, and allows P&G to operate under Synaptic's patents for all therapeutic indications for these two compounds. In exchange for the exclusive license, P&G will provide an up-front licensing fee, and milestone payments and royalties to Synaptic if any drugs are developed and commercialized by P&G. Further details of the license terms were not disclosed.
The two licensed compounds selectively bind to alpha-2 adrenergic receptors, which are activated by the neurotransmitter norepinephrine (noradrenaline). The alpha-2 adrenergic receptors serve as a critical system in regulating physiological functions controlled by both the peripheral and central nervous system. They have been found to affect blood pressure, heart rate and smooth muscle tone, as well as other activities. As a result, alpha-2 compounds play an important role in the treatment of many disorders. P&G's programs focusing on these particular licensed compounds are at a late preclinical stage, and their specific therapeutic applications have not been disclosed.
In discussing the licensing agreement, Kathleen P. Mullinix, Ph.D., president and chief executive officer of Synaptic commented, "I am pleased that we have completed our licensing deal with P&G. The agreement gives Synaptic a stake in any new drug candidates developed by P&G from two compounds in our sizable patent estate. Thus, it expands our sources of revenue and adds a premier pharmaceutical company to our growing roster of business partners. In addition, this deal further highlights our commitment to extracting value from our robust patent estate that includes not only receptor genes and screening and functional use patents, but also a significant set of chemistry patents as well."
Synaptic Pharmaceutical Corporation is a drug discovery company utilizing its patented GPCRs as targets for novel therapeutics. Synaptic is utilizing its large portfolio of patented GPCR targets as a basis for the creation of improved drugs that act through these targets. As of July 10, Synaptic is collaborating with Grunenthal GmbH on discovering compounds for the alleviation of pain and with Kissei Pharmaceutical Co., Ltd. to identify novel G protein-coupled receptors that can provide new drug discovery targets for Kissei. Eli Lilly and Company, Novartis Pharma A.G., Glaxo Group Limited and Johnson & Johnson Research and Development, L.L.C. have also been granted licenses by Synaptic. For more information on the Company, please visit our website at synapticcorp.com.... |
