PCOP scores a small deal with royalties:
>>TEL AVIV, Israel and PRINCETON, N.J., Oct. 23 /PRNewswire/ -- Ester Neurosciences, Ltd. and Pharmacopeia, Inc. (Nasdaq: PCOP - news) jointly announced today that they have entered into a research and development agreement for the identification of novel small molecule drug candidates for a wide range of neurological diseases involving the neuropathological upregulation of Ester's novel and proprietary target, a rare variant of acetylcholinesterase (AChE-R). Pharmacopeia will screen its extensive chemical library of novel small molecules to identify compounds that will be effective in pre-expression inhibition of AChE-R.
Over the course of the collaboration, Pharmacopeia will receive funding for providing its research activities. In addition, Pharmacopeia is entitled to receive additional payments upon identification of active compounds and the achievement of other milestones. Pharmacopeia will also receive royalties on any marketed products that result from the collaboration. Further financial details of the agreements were not disclosed.
``We are confident that this collaboration will enable Ester to generate a substantial pipeline for a wide range of neurological disorders, such as Alzheimer's and Parkinson's diseases, not only because of Pharmacopeia's historical success in discovering and optimizing compounds against challenging targets but also as a result of the multiplicity of potential targets, such as splicing proteins and transcription factors, involved in the regulation of AChE-R expression,'' said Oded Ben-Joseph, Ph.D., MBA, President of Ester. ``We believe that the resulting active compounds will also possess disease- modifying properties due to the structural and morphogenic activities of AChE- R, which play a detrimental role in the neurodegenerative process,'' Ben-Joseph added.
Ester has demonstrated the utility of its genome-based approach to AChE neuromodulation using its antisense drug candidate EN101 in experimental myasthenia gravis, a progressive muscle weakness due to auto-antibodies blocking of the acetylcholine receptors in the neuromuscular junction, which is currently undergoing human trials.
``We are pleased to begin a new relationship with our talented colleagues at Ester,'' said Joseph A. Mollica, Ph.D., Chairman, President, and CEO of Pharmacopeia. ``By working with Ester in this important therapeutic area, we feel confident that our multimillion compound sample collection and high- throughput screening expertise will result in the identification of effective, small molecule drug candidates. We look forward to a long and productive relationship with Ester.''
Ester Neurosciences Ltd. (www.esterneuro.com) is a development stage biopharmaceutical company committed to the discovery and development of novel therapeutic products for the treatment of neurological disorders such as myasthenia gravis, Alzheimer's and Parkinson's diseases, multiple sclerosis and others. Ester's unique platform technology is based on the company's breakthrough discoveries relating to cholinergic neuromodulation and its involvement in the diseased state.<<
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Cheers, Tuck |
