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PsychoGenics Inc. and AstraZeneca PLC (AZN) (JOBS) Enter Agreement to Identify New Treatments for Central Nervous System Disorders



8/31/2009 6:46:59 AM

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TARRYTOWN, N.Y.--(BUSINESS WIRE)--PsychoGenics Inc. and AstraZeneca have entered into a drug discovery and development agreement to identify compounds that are likely to be useful for the treatment of certain Central Nervous System (CNS) disorders.

Under the agreement, PsychoGenics will use its proprietary drug discovery technologies to evaluate a number of AstraZeneca drug candidates for their potential to treat psychiatric disorders. PsychoGenics will receive research payments and milestones commensurate with the stage of development, as well as royalties on any future sales.

Dr. Emer Leahy, President and CEO of PsychoGenics said, "We are excited about this collaboration and look forward to working with AstraZeneca’s scientific team. We are confident that, with AstraZeneca’s compound libraries and expertise in CNS drug discovery and our proprietary drug discovery approach, we have an excellent opportunity to identify novel and improved treatments for serious psychiatric disorders.”

Dr. Frank Yocca, Vice President and Head of Research Area CNS & Pain, AstraZeneca R&D Wilmington, said, “We are continuously seeking opportunities to collaborate with those who share our commitment to pursuing novel therapies. We are eager to start our work with PsychoGenics in this important area of research, and we are excited to be able to access their innovative technologies and to leverage their expertise in neurobiology.”

PsychoGenics has developed proprietary high-throughput drug discovery platforms that combine expertise in behavioral neurobiology with the power of robotics, bioinformatics and computer vision to discover the next generation of neuropsychiatric drugs. Working in collaboration with pharmaceutical and biotech companies, PsychoGenics has been instrumental in identifying the therapeutic potential of discontinued and early stage compounds, including some with novel “first-in-class” mechanisms of action.

About PsychoGenics

PsychoGenics is a leader in preclinical behavioral neurobiology. The Company applies its behavioral expertise together with advances in robotics, computer vision, and informatics to provide innovative solutions for central nervous system drug discovery. PsychoGenics works with pharmaceutical and biotechnology companies, academic institutions, and not-for-profit research foundations to help discover treatments for such major neurological and psychiatric disorders as: ALS, anxiety, cognitive impairment, depression, Huntingtons Disease, psychosis/schizophrenia, and Spinal Muscular Atrophy (SMA).

Using its proprietary technologies, PsychoGenics has on-going drug discovery partnerships with Lilly, Roche, Cephalon, Sepracor and others and has created new company known as Psylin Neurosciences, in partnership with Amylin to develop peptides for Psychiatric disorders. The Company’s internal programs include its Phase II programs for ADHD and L-dopa induced dyskinesia associated with Parkinson’s disease.

Contact:

PsychoGenics Inc. Ms. Bavani Shankar, V.P., Corporate Development 914-406-8060 www.psychogenics.com


Read at BioSpace.com

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