Re. Cognetix, a friend (thanks, D.) sent this. This is a violation of SI rules, but I think that BioWorld, an excellent publication, wouldn't mind the publicity......
50,000 BIOACTIVE CONOPEPTIDES MAY EXIST - COGNETIX FINANCING NETS $6M
FOR SNAIL-VENOM DRUG STUDIES
SOURCE: BioWorld
DATE: June 23, 1998
Cognetix Inc., which uses venom from marine snails to develop drugs for
central nervous system (CNS)
disorders, raised $6 million to step up the pace of its programs.
"We've already taken one of [the venom extracts] pretty far, for the
treatment of epilepsy," said Davis Temple,
CEO of Salt Lake City-based Cognetix. The drug, which Temple described
as
"probably the most potent
anti-convulsive agent known," has drawn the interest of a large
potential
partner.
Under terms of the venture financing, Cognetix received $4 million up
front and expects another $2 million in
near-term milestone payments.
Cognetix works with conopeptides, small molecules derived from the Conus
species of predatory snail, often
called the cone snail. Conopeptides bind to receptors and ion channels
in
the nervous system with great
specificity and high affinity - offering potential for CNS agents
without
the side effects of current therapies.
Cognetix believes that at least 50,000 bioactive conopeptides exist,
providing an extensive natural library. Of
these, more than 130 have been fully characterized.
The toxic venom "tends to hit neurological targets from different
directions, which is not good," Temple told
BioWorld Today. However, when the components are isolated, they can be
very useful.
"We synthesize it ourselves in the peptide lab after that," Temple said.
The compounds have "specificity
thousands of times greater than you could ever get with a small
molecule," he added.
"These snails have been doing their own medicinal chemistry for millions
of years," Temple said. "A [human]
medicinal chemist probably has until the next review meeting to work on
it."
Neurex Takes Conopeptide To Phase III
One conopeptide compound already has proven itself in Phase III clinical
trials against chronic malignant pain
caused by cancer or AIDS. Ziconotide, a synthetic peptide based on the
snail-venom derivative, showed
positive results in the Phase III trial by Neurex Corp., of Menlo Park,
Calif., and Neurex's joint venture with
Minneapolis-based Medtronic Inc. is developing an implantable pump for
delivering Ziconotide to the spine.
(See BioWorld Today, April 1, 1998, p. 1.)
A month after release of the trial results, Elan Corp., of Dublin,
Ireland, agreed to take over Neurex for $741
million in Elan stock. (See BioWorld Today, April 30, 1998, p. 1.)
Cognetix also will be working on drugs to treat pain, Temple said.
"We're not necessarily working on one drug, but on a whole family of
approaches," he added.
Cognetix's collaborators in conopeptides for CNS disorders include
CytoTherapeutics Inc., of Providence,
R.I., and Sibia Neurosciences Inc., of La Jolla, Calif. (See BioWorld
Today, Feb. 12, 1998, p. 1, and July
30, 1996, p. 1.) *
By Randall Osborne Staff Writer
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