PsychoGenics Inc. Achieves Substantial Milestone in Its Drug Discovery Collaboration With Sunovion Pharmaceuticals Inc.
11/5/2012 9:49:18 AM
TARRYTOWN, N.Y.--(BUSINESS WIRE)--PsychoGenics today announced that the Food and Drug Administration (FDA) has accepted Sunovion’s IND for SEP360, triggering a milestone payment to PsychoGenics, and that human dosing has been initiated. In August 2007, PsychoGenics and Sunovion entered into a drug discovery and development agreement to combine their complementary strengths and expertise to identify a new generation of treatments for Central Nervous System (CNS) disorders. PsychoGenics evaluated a diverse library of compounds, using its proprietary in vivo drug discovery technology, SmartCube®, leading to the discovery of SEP360 a new drug candidate with a novel mode of action for the treatment of certain psychiatric disorders. The FDA’s Office of New Drugs, Division of Psychiatric Products has accepted Sunovion’s IND thereby triggering a milestone payment to PsychoGenics.