BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

Biogen Idec, Inc. (Massachusetts) (BIIB), Proteostasis Therapeutics, Inc. Hammer Out $200 Million+ Pre-Clinical Alzheimer's Pact


12/9/2013 7:23:00 AM

free biotech news Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!

Proteostasis Therapeutics Announces Collaboration with Biogen Idec for Research, Development and Commercialization of Therapies for Neurodegenerative Diseases

CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Proteostasis Therapeutics, Inc., a company developing novel therapeutics that regulate protein homeostasis aimed at helping to improve outcomes for patients with orphan and neurodegenerative diseases, today announced that it has entered into a worldwide collaboration with Biogen Idec (BIIB) to research and develop therapeutic candidates based on the inhibition of Usp14. This collaboration combines Proteostasis Therapeutics’ proprietary scientific platform and preclinical work on protein degradation with Biogen Idec’s neurodegenerative disease research and clinical development capabilities.

“We are very pleased to be collaborating with Biogen Idec, a worldwide leader in the innovative treatment of neurodegenerative diseases,” said Markus Haeberlein, MSc, Ph.D., Senior Vice President and Head of Research at Proteostasis Therapeutics. “We look forward to advancing our disease-modifying approach to develop therapeutic candidates that can address several protein aggregation disorders, including Parkinson’s and Alzheimer’s disease.”

Preclinical research has shown that the inhibition of Usp14, a deubiquitinating enzyme, modulates proteasome activity and increases the degradation rate of aggregation-prone proteins, including a-synuclein in Parkinson’s disease and tau in Alzheimer’s disease. The collaboration is intended to develop Usp14 inhibitors as a disease-modifying approach for a wide range of disorders involving toxic protein aggregation.

“Proteostasis is a leader in this field, and we are pleased to be working with them to develop meaningful new treatments for patients with neurodegenerative and other diseases,” said Spyros Artavanis-Tsakonas, Ph.D., Chief Scientific Officer at Biogen Idec.

Proteostasis will receive an initial upfront payment from Biogen Idec, along with an equity investment, and is eligible for research funding support and future development and commercial milestones that could result in total payments of up to $200 million, as well as tiered royalties. Under the agreement, the companies will conduct preclinical research to identify lead compounds for clinical development. At specified points in development, Proteostasis will have the option to receive potential milestones or opt in for global co-development and U.S. co-commercialization rights.

The Usp14 technology was originally developed at Harvard Medical School by Professors Daniel Finley, Ph.D., and Randall King, Ph.D., M.D., both members of the Proteostasis Scientific Advisory Board, and funded in part by the Blavatnik Biomedical Accelerator program. It is being advanced under license from Harvard University.

About Proteostasis Therapeutics

Proteostasis Therapeutics is developing disease-modifying therapeutics for orphan and neurodegenerative diseases with lead programs in cystic fibrosis and a collaboration with Biogen Idec to develop therapeutics for neurodegenerative diseases. The Company’s platform revolves around the modulation of protein homeostasis pathways within the cell. These pathways are part of the cellular ‘quality control’ machinery, called the protein homeostasis network or Proteostasis Network (PN) that regulates protein folding, trafficking, and clearance. By modifying the function and capacity of the PN, the Company’s product candidates correct for imbalances in the PN resulting from the cumulative effects of disease, genetic mutations, environmental factors, and aging. For more information, please visit www.proteostasis.com.

Contact:

Investors:

Stern Investor Relations, Inc.

Jesse Baumgartner, 212-362-1200

Help employers find you! Check out all the jobs and post your resume.


Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES