Neurodyn Inc. Acquires Memogain® For Dementia in Alzheimer’s Disease
CHARLOTTETOWN, Prince Edward Island--(BUSINESS WIRE)--
announced today that it has acquired from Galantos
Pharma GmbH, Mainz, Germany (galantos.com) all assets related to their
Alzheimers prescription drug candidate ®.
Memogain® has completed an extensive preclinical development program and
is ready to proceed into Phase 1 clinical trials in late 2013. The terms
of the acquisition were not disclosed.
We are very pleased to complete this acquisition. Memogain® is a
significant improvement over existing Alzheimers drugs, and is staged
for immediate entry into clinical trials. It has the potential to follow
a fast-track regulatory pathway in both the US and Europe, said Kenneth
Cawkell, Neurodyn CEO.
Memogain® is a patented improvement on the generic drug, galantamine,
(Nivalin, Razadyne, Razadyne ER, Reminyl, Lycoremine). Galantamine, a
plant-derived compound, is widely prescribed to enhance cognition for
the treatment of mild to moderate Alzheimer's disease, but has a limited
capacity for brain penetration and significant side effects that limit
its effectiveness. Memogain® was developed to have a much higher
bioavailability in the brain, without the negative gastro-intestinal
side effects that limit patient acceptance.
Neurodyn will also investigate the potential for Memogain® to decrease
the amyloid plaque burden associated with Alzheimers disease and to
induce new cell growth in regions of the brain affected by the disease.
Sales of galantamine are currently in excess of $500 million per year.
The worldwide Alzheimers drug market is currently estimated to exceed
$4.2 billion and is growing rapidly due to the aging demographic.
Current drugs on the market have significant side effects which limit
their effectiveness and reduce their usefulness.
The revenue potential for Memogain® could extend beyond the current
galantamine market share due to the urgent medical need for Alzheimers
drugs that have increased efficacy and decreased side effects compared
to the current anti-dementia drugs.
is a Canadian biotechnology company focused on identifying, validating
and developing natural bioactives into both prescription drugs and
natural products for the early treatment of neurological diseases.
Neurodyn examines historically-proven natural products to discover key
bioactives which can either be reformulated or repurposed to provide
more effective treatments for neurological conditions.
Neurodyns lead technologies include , a neuroprotectant
for use in early stage Parkinsons disease, which is incorporated into
both a nutrition supplement (in market) and a US-FDA Medical Food
product (under development), , a novel
therapeutic demonstrating pre-clinical efficacy in ALS, Parkinsons
disease, Alzheimer's disease and Spinal Muscular Atrophy, and a natural
product derived , which is being
developed as a prescription drug for a topical nerve pain condition.
is a German biotechnology company founded in 2005 by Professors Alfred
Maelicke (Mainz) and Ulrich Jordis (Vienna). Both have been intimately
involved in the original development of galantamine, and in bringing the
drug to market. Realizing the limited brain penetration of the
plant-derived drug galantamine, they set out to develop a
pro-galantamine with much higher bioavailability in the brain and
without compliance-compromising gastro-intestinal side effects. In
addition, their new drug candidate Memogain® has the potential of both
neuroprotection and disease-modification. Prof. Maelicke will continue
with Neurodyn as Managing Director Europe.
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Source: Neurodyn Inc.