CAMBRIDGE, U.K., Nov. 13, 2002 (PRIMEZONE) -- CeNeS Pharmaceuticals plc (LSE:CEN) (Other OTC:CPHAF) today announced that it had signed an agreement to out-licence its recombinant glial growth factor (GGF2) for the potential treatment of multiple sclerosis (MS) to Acorda Therapeutics, Inc., a U.S. based biotechnology company that is a leader in research and development for spinal cord injury and central nervous (CNS) disorders.
GGF2 is involved in controlling the cells that form and maintain the myelin sheath insulating nerve axons in the CNS. These cells are thought to be involved early in the demyelination of nerve fibres seen in MS. A recombinant version of GGF2, rhGGF2, is currently in late stage pre-clinical trials for multiple sclerosis. Cambridge Neuroscience, which was acquired by CeNeS in December 2000, had originally developed the growth factor.
Under the terms of the agreement, Acorda will acquire CeNeS' rights relating to GGF2 and its earlier stage research candidate neuregulin 2 (NRG2). In return, CeNeS will receive up to $13m consisting of $0.5m upfront together with up to $12.5m further stage payments dependent on the achievement of clinical milestones. CeNeS will also receive royalties on any product sales.
Commenting, Neil Clark, Chief Operating Officer of CeNeS Pharmaceuticals plc, said: "As part of our restructuring plan we have been divesting certain non-core assets and are very pleased to have reached this agreement with Acorda. We believe these programs have a high commercial potential and we maintain a carried interest in the asset. We think that Acorda is uniquely positioned to exploit this asset to its maximum potential."
CeNeS is a biopharmaceutical company specialising in the development and commercialisation of drugs for CNS disorders and pain control. The company currently markets four products, and has research and development assets targeting pain, schizophrenia, addiction and sleep disorders. CeNeS is based in Cambridge, England. For further information please visit www.cenes.co.uk.
Acorda Therapeutics, a privately held biotechnology company, is developing therapies for spinal cord injury (SCI) and related neurological conditions, including multiple sclerosis (MS). The Company's lead product, Fampridine-SR, is in Phase 3 clinical trials for restoring neurological function in chronic SCI and is in Phase 2 trials in MS. Acorda's technology platform also includes a class of human monoclonal antibodies that have been shown to remyelinate the central nervous system in animal models. These antibodies are in preclinical development for multiple sclerosis. Additionally, Acorda is developing protein and stem cell-based technologies for regeneration and repair of the spinal cord and brain. Further information about Acorda can be found at www.acorda.com.
Notes for editors:
Growth factors
Growth factors are proteins that bind to receptors on the cell surface, with the primary result of activating cellular proliferation and/or differentiation. Many growth factors are quite versatile, stimulating cellular division in numerous different cell types; while others are specific to a particular celltype.
Neuregulin1/Glial Growth Factor 2 (GGF2) Neuregulin1 is a gene, the products of which include Glial Growth Factor 2 (GGF2). GGF2 is known to stimulate the growth and differentiation of glial cells, the support cells of the nervous system. These glial cells form the myelin sheath that insulates nerve cells and is essential for their survival and proper functioning. In demyelinating diseases such as multiple sclerosis, the myelin sheath is damaged or lost, leading to the degeneration of nerve cells. Pre-clinical studies have demonstrated that GGF2 can stimulate the cell growth necessary to protect and regenerate damaged myelin sheath. GGF2 has also been implicated in the pathogenesis of brain cancers, synaptic plasticity, which is important for memory, and of motor neurons.
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