>>Please feel free to add to the list>>
Curis (CRIS). (This might have been the last J/V Elan entered into).
CAMBRIDGE, Mass., Jul 18, 2001 (BW HealthWire) -- Curis, Inc.
(NASDAQ: CRIS) today announced that it has formed a joint venture with Elan Corporation, Plc ("Elan") that is committed to the research and development of molecules that stimulate the hedgehog (Hh) signaling pathway. This pathway had previously been shown to play a role in the development of the central and peripheral nervous systems. Curis scientists and collaborators have shown that in the adult, hedgehog is responsible for inducing the repair and regeneration of nerve tissues following injury, trauma or disease. The business venture will focus upon the development of therapeutics targeting a number of neurological disorders. In addition to providing clinical expertise and support for the program, Elan will grant the business venture a non-exclusive license to an important animal model, a mouse strain that develops many of the features of human neurodegenerative diseases.
Under the terms of the licensing agreement, the two companies will each contribute intellectual property to the joint venture. Curis initially will be the majority owner of the joint venture.
"Our scientists have found that stimulating the Hh pathway can have profound and unique effects on cells in the nervous system undergoing degeneration in different diseases, including Diabetic Neuropathy and Parkinson's Disease," stated Dr. Lee Rubin, Ph.D., Senior Vice-President of Research and Chief Scientific Officer of Curis. "We have discovered agents, both protein and small molecules, that potently activate this pathway. We are extremely excited to be working with Elan, a company experienced in neurological disorders, to bring these molecules to the clinic."
Ivan Lieberburg, Ph.D., M.D., Elan's Chief Scientific and Medical Officer stated that, "Elan's partnering strategy gives us the opportunity to leverage very important technology with leaders in their respective fields. I am particularly excited about entering into this important collaboration with Curis. Curis is clearly the world leader in Hedgehog technology, and there is now growing evidence that Hedgehog agonists could have broad reaching applications in a variety of neurological disorders that are extremely important to Elan, including Parkinson's disease, neuropathy, pain, multiple sclerosis and Alzheimer's disease."
"The business venture with Elan demonstrates the value of Curis' strong position in the exploitation of developmental pathways in tissue regeneration," said Dr. Doros Platika, M.D., President and Chief Executive Officer of Curis. "We have identified growth factors and small molecules that have broad applications in many disease areas. This joint venture structure allows Curis to secure the resources for the development of its extensive pipeline while at the same time allowing it to retain a significant portion of the value creation." |
