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Acorda. Dr. Tracy can provide more details on the status of this project, as it was covered in the recent issue of NeuroInvestment.
ACORDA THERAPEUTICS AND ELAN CORPORATION FORM JOINT VENTURE TO DEVELOP FAMPRIDINE FOR TREATMENT OF MULTIPLE SCLEROSIS
New York, NY, July 16, 1998 - Acorda Therapeutics, Inc. announced today that Acorda and Elan Corporation plc (NYSE:ELN) have formed a joint venture to develop Elan’s proprietary, oral, sustained-release formulation of fampridine for treatment multiple sclerosis (MS). Acorda is the majority owner of the joint venture.
Fampridine is the generic name of 4-aminopyridine ("4-AP"), a compound which increases the ability of demyelinated nerve processes ("axons") to conduct electrical impulses. In initial human clinical trials of fampridine, scientists have reported encouraging results in enhancing neurological function both in people with MS and spinal cord injury ("SCI"). Under the agreement announced today, Elan has granted to the joint venture exclusive, worldwide rights to develop and market Elan’s proprietary formulation of fampridine for multiple sclerosis. Acorda will conduct MS clinical development of the product on behalf of the joint venture, and will continue independently to develop fampridine for SCI, under a previously announced agreement with Elan.
Fampridine acts by blocking specialized potassium channels on nerve cells and axons. These channels become exposed when the insulating myelin sheath around the axons is damaged, as in trauma or disease. The exposed potassium channels permit current to "leak." out of the axon, short-circuiting normal conduction. By blocking these channels, fampridine restores the ability of the axon to conduct. This effect appears to persist as long as fampridine is present, so that the drug, if successfully developed, would need to be taken chronically to maintain an effect.
Commenting on the significance of the deal, Ron Cohen, M.D., President and CEO of Acorda, said: "Fampridine is the first medical therapy to show potential for improving neurological function in people with demyelinating conditions such as MS and spinal cord injury. Under Acorda’s original collaboration with Elan, the company expects to complete a Phase II clinical trial of fampridine in SCI by the end of this summer. Our new agreement with Elan expands the scope of Acorda’s development program to include a second promising disease target for fampridine."
Michael Sember, Executive Vice President of of Business Development at Elan and a Director of Acorda, said: "Elan and Acorda have collaborated successfully over the past year and a half to advance the clinical development of fampridine for SCI. We are pleased to be building on this relationship with our new joint venture for MS."
Acorda is a privately held biotechnology company developing therapies to preserve and restore neurological function in people with SCI and other neurological conditions, including MS. The Company, which was incorporated in 1995, also is developing proprietary technologies for neuroprotection, and for remyelination and regeneration of nerve tissues. |
