Healthcare Industry News: schizophrenia
News Release - December 3, 2007
Cenomed BioSciences Announces Licensing Agreement with ThioPharma, Inc.Proprietary Drug Delivery Technology to Support Cenomed's CNS Drug Platforms
IRVINE, Calif.--(HSMN NewsFeed)--Cenomed BioSciences, LLC, a majority-owned subsidiary of Abraxis BioScience, Inc. (NASDAQ:ABII ), today announced that it has signed an exclusive collaboration and licensing agreement with ThioPharma, Inc. to develop and commercialize drug delivery technology, which will be developed for use with certain of Cenomed’s psychiatric and neurological disease programs.
Under the terms of the agreement, ThioPharma will receive an upfront payment and milestone payments upon achievement of certain development and regulatory events. Cenomed has also agreed to collaborate with ThioPharma as part of the development of the technology. "We at ThioPharma are pleased to be working with Cenomed BioSciences for future development of our proprietary drug delivery technology," said Dr. John Schloss, CEO and CSO of ThioPharma, Inc. Additional financial terms were not disclosed.
The technology is based on the discovery of new compounds, compositions and methods that can be used to link to a therapeutic agent to allow for the directed delivery of the therapeutic agent to the site of action in the human body. “Particularly useful to Cenomed is the potential ability of this technology to deliver therapeutic agents across the blood-brain barrier,” said Ernest Pfadenhauer, Vice President of Pharmaceutical Development, Cenomed BioSciences, LLC. "This licensing agreement expands Cenomed’s scope of research and gives us a broader pipeline for developing therapies for unmet medical needs."
Cenomed plans to continue exploring additional strategic partnership opportunities within the pharmaceutical sector for the acquisition and development of other novel technologies as well as exploring opportunities with larger pharmaceutical companies to develop drugs from the research and development efforts conducted by Cenomed.
About ThioPharma, Inc.
ThioPharma, Inc. is a research stage pharmaceutical company based on glutathione-mediated drug delivery and action. ThioPharma resulted from the collaborative research efforts of three academic researchers at the University of Kansas: Prof. Morris D. Faiman of the Department of Pharmacology & Toxicology, Prof. John V. Schloss of the Department of Medicinal Chemistry, and Prof. Jang-Yen Wu of the Department of Molecular Biosciences. ThioPharma's technology represents over 80 years of collective research experience in the areas of drug metabolism, neuroscience, drug design and pharmacology.
About Cenomed BioSciences, LLC
Cenomed BioSciences, LLC, a joint venture between Abraxis BioScience, Inc. (NASDAQ:ABII ) and Cenomed, Inc., is a pharmaceutical company focused on the development of innovative new drug therapies for chemical defense and for the treatment of nervous system disorders such as schizophrenia, mild cognitive impairment and memory/attention impairments associated with aging, attention deficit hyperactivity disorder and pain. Cenomed BioSciences is a majority-owned subsidiary of Abraxis BioScience, Inc. More information on Cenomed BioSciences is available at www.cenomedbiosciences.com.
Source: Cenomed BioSciences
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