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Athenagen Inc. Completes Merger With Zapaq, Inc.


8/14/2006 10:19:54 AM

SOUTH SAN FRANCISCO, Calif., Aug. 14 /PRNewswire-FirstCall/ -- Athenagen, Inc. said today that it has closed its previously announced merger with Zapaq, Inc. The combined privately held company is called Athenagen, with W. Scott Harkonen, M.D., as President and Chief Executive Officer and Robert McNeil, Ph.D., as Executive Chairman. The merger unites the companies' extensive research and development programs to create a leading neurovascular therapeutics pipeline. Terms of the merger were not disclosed.

Athenagen is engaged in the discovery and development of small-molecule drugs to treat neurovascular disease indications, such as Alzheimer's disease, AMD and cognitive disorders. The company has two fundamental technology platforms: (i) beta-secretase inhibitors for the treatment of Alzheimer's disease; and (ii) nACh receptor agonists and antagonists for the treatment of angiogenesis mediated diseases and cognitive disorders. Athenagen currently has four product development programs based on these two technologies: ATG003, a topical (eye drop) anti-angiogenesis compound for neovascular AMD entering a Phase 1 study; GTS-21, an oral agonist of the alpha-7 nACh receptor pathway for cognition enhancement currently in a Phase 2 study; ATG002, a topical (gel) pro-angiogenesis compound for diabetic foot ulcers currently under an active IND and ready for Phase 1/2 study; and two clinical candidates from the beta-secretase inhibitor program approaching Phase 1 study for Alzheimer's disease in the first quarter of 2007. Athenagen has its headquarters in South San Francisco and has research operations in both South San Francisco and Oklahoma City. For more information: www.athenagen.com.

Athenagen, Inc.

CONTACT: W. Scott Harkonen, M.D., President and CEO of Athenagen, Inc.,+1-650-869-7600, or press@athenagen.com


Read at BioSpace.com


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