Addex Pharmaceuticals enters into Collaboration with Ortho-McNeil Pharmaceutical to Develop Novel Treatments
Through a joint steering committee, Addex and J&JPRD will collaborate in all phases of research and development up to clinical proof of concept. Addex' expertise in allosteric modulator pharmacology will be combined with the recognised expertise of J&JPRD in the fields of psychiatry and neurology. Allosteric modulators are expected to have greater selectivity, which may give them a significant competitive advantage in the treatment of anxiety, depression, schizophrenia and Alzheimer's disease.
Under the terms of the agreement, Ortho-McNeil will pay Addex an upfront fee and research funding for 2 years. In addition, Addex will be eligible for payments on successful achievement of pre-specified scientific, clinical and regulatory milestones, and royalties on product sales.
Other news from the department business & finance
Get the life science industry in your inbox
From now on, don't miss a thing: Our newsletter for biotechnology, pharma and life sciences brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.