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Biotech / Medical : Elan Corporation, plc (ELN) -- Ignore unavailable to you. Want to Upgrade?

To: Icebrg who wrote (4287)	4/16/2003 4:48:07 AM
From: Icebrg	Respond to of 10345

Elan partner (?) CeNeS continue their assets shedding strategy. Message 18846416 In the PR they note that: The funds raised from the sale of the products will be used to secure the planned clinical development of CeNeS' leading clinical candidate for the treatment of post-operative pain, M6G (morphine-6-glucuronide). CeNeS plans to continue with the current trial programme and the preparation for the commencement of the major Phase III trial, which is planned to start in 2003. The Board will also review the opportunity to continue the development of M6G for the treatment of chronic pain such as that associated with cancer. and Future strategy The strategy of the Company is to seek commercial partners for both M6G and CNS 5161 with the objective of securing a partner for M6G with the benefit of Phase III data (assuming successful completion of the planned clinical trials). A partner for CNS 5161 will be sought following the completion of the planned Phase II study assuming the results of that study are positive. Now, the development of M6G used to be the subject of a j/v agreement with Elan. In November of last year CeNeS said that they were reviewing the j/v structure. M6G is currently partnered with Elan under a joint venture arrangement. This arrangement has worked well to date and facilitated the further development of M6G. As previously announced, CeNeS has started discussions with its partner Elan to simplify the current joint venture. It is therefore expected that these later trials will be managed and funded outside of the joint venture. Further details will be announced in due course as the particulars of the new arrangements are finalised. In today's PR there was no mentioning of Elan at all. I supposed that this should be taken as a sign that the M6G-cooperation is no more. Somewhat surprising as pain is supposed to be one of Elan's core areas. Erik