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BrainCells Inc. and Taisho Pharmaceutical Sign Licensing Agreement for Novel CNS Program


9/27/2007 7:41:23 AM

SAN DIEGO and TOKYO, Sept. 27 /PRNewswire/ -- BrainCells Inc. (BCI) and Taisho Pharmaceutical Co., Ltd. (Taisho) today announced that BCI has in-licensed a novel development program from Taisho that BCI will develop for central nervous system (CNS) indications, including mood disorders. Taisho retains rights to the program in Japan and China, while BCI will have rights for the remainder of the world. Financial terms were not disclosed.

The licensing agreement follows BCI's determination that the program's lead compound, promotes neurogenesis: the process by which endogenous stem cells in the adult human brain produce new brain tissue, including neurons. BCI plans to complete preclinical development of the lead compound, designated as BCI-632, and advance it into clinical trials.

"BCI will continue to build a pipeline of neurogenesis-promoting compounds through licensing agreements like this one," said Jim Schoeneck, BCI's CEO. "We are pleased to have acquired rights to this Taisho program due to the unique receptor targets that are modulated by BCI-632 and the other compounds in this program. Through the use of our proprietary neurogenesis assay platform we have determined that the compounds we have licensed are highly neurogenic."

About Taisho Pharmaceutical Co., Ltd.

Taisho Pharmaceutical Co., Ltd. (Taisho) is the leading company in non-prescription pharmaceuticals in Japan. At the same time, it is strengthening its research and development efforts in the area of prescription drugs through steady internal growth. These efforts have seen it make progress with several original projects. Through ongoing active proprietary R&D and collaboration with Japanese and foreign companies, Taisho is determined to bolster its prescription pharmaceuticals business.

About BrainCells Inc.

BrainCells Inc. (BCI) is a San Diego-based drug discovery and development company that is applying proprietary neurogenesis-based technology to identify and reposition compounds for the treatment of central nervous system (CNS) diseases. With its predictive screening platform, BCI can direct the selection and development of neurogenic compounds, increasing the opportunity for successful clinical trials in a variety of CNS indications. For more information, visit http://www.braincellsinc.com.

Media Contacts: BrainCells, Inc. Tracey Milani or David Schull Russo Partners LLC (619) 814-3511 tracey.milani@russopartnersllc.comdavid.schull@russopartnersllc.com Taisho Pharmaceutical Co., Ltd. Yoshio Ninomiya Executive Officer General Manager, Public Relations Section +81-3-3985-1111

BrainCells Inc.

CONTACT: Tracey Milani, tracey.milani@russopartnersllc.com or DavidSchull, david.schull@russopartnersllc.com, both of Russo Partners LLC forBrainCells, Inc., +1-619-814-3511; or Yoshio Ninomiya, Executive Officer,General Manager, Public Relations Section of Taisho Pharmaceutical Co.,Ltd., +81-3-3985-1111



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