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Biotech / Medical : SIBIA Neurosciences (SIBI) -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (543)	2/2/2000 9:30:00 AM
From: scaram(o)uche	Read Replies (1) \| Respond to of 579

grrrrrrrr............. Wednesday February 2, 9:00 am Eastern Time Company Press Release SOURCE: Cognetix, Inc. Cognetix Forms Collaboration With Elan to Develop Drug for Acute Pain Management SALT LAKE CITY, Feb. 2 /PRNewswire/ -- Cognetix, Inc. announced today that it has completed a licensing and collaboration agreement with Elan Corporation, plc. (NYSE: ELN - news) to develop and commercialize Cognetix's contulakin-G (CGX-1160) for short-term management of post-operative pain using Elan's proprietary MEDIPAD® Drug Delivery System. CGX-1160 is a conopeptide derived from the venom of the marine snail Conus geographus. It is a neurotensin receptor agonist that has demonstrated efficacy in a wide range of pain models, including acute pain. CGX-1160 appears to be well tolerated, based on pre-clinical assessment, and to have an extended duration of analgesia. Moderate to severe post-operative pain generally is managed with morphine or other opioid analgesics, but these are not without problems relating to side effects and tolerance development. Elan's MEDIPAD Drug Delivery System combines the convenience of a transdermal patch with the drug delivery capabilities of an infusion pump. The system is disposable, inexpensive and can be used to infuse drugs over a 24 to 48 hour timeframe. Cognetix and Elan will exclusively license, for specific applications, CGX-1160 and MEDIPAD, respectively, to a Cognetix subsidiary. ''This is an exciting opportunity for Cognetix on several levels,'' said Brian Anderson, CEO of Cognetix. ''The strategic partnership will bring together a unique drug/device combination to tackle a treatment area of urgent medical need. We feel that this is a great strategic fit for Cognetix and Elan, especially with CGX-1160, the lead compound in our pain therapeutics portfolio. Elan's experience in drug delivery and their interest in pain management, notably the advancement of ziconotide, is well established.'' ''We believe that this deal further validates our technological approach. In a period of less than 12 months, Cognetix has concluded two major corporate partnerships, with compounds now being advanced to clinical trials. In February 1999 we partnered with Medtronic, Inc. to develop another Cognetix conopeptide, conantokin-G (CON-G), for the treatment of intractable epilepsy.'' The Medtronic agreement calls for the development of CON-G using a SynchroMed® infusion system for delivery of the drug into the central nervous system of epilepsy patients. CON-G is expected to enter human trials later this year. Under the terms of the agreement with Elan, Elan has made an equity investment in Cognetix and will support costs associated with the research and development budget for the project. Specific terms are not disclosed. Cognetix, Inc. is a privately-held biopharmaceutical company located in Salt Lake City, Utah. The Company is developing drugs from marine natural products, primarily from the venoms of Conus snails. In addition to epilepsy and pain treatments, Cognetix has research efforts underway in neuromuscular blockade, local anesthesia, neuromuscular disorders, and cardiovascular diseases. SOURCE: Cognetix, Inc.