RESEARCH TRIANGLE PARK, N.C., May 30 /PRNewswire/ -- CeNeRx BioPharma, Inc., a biopharmaceutical company developing and commercializing innovative treatments for diseases of the central nervous system, today announced it has signed an agreement with PharmaNess Neuroscience giving CeNeRx the rights to a series of novel cannabinoid compounds that selectively target the CB1 and CB2 cannabinoid receptors. Under the terms of the agreement, CeNeRx has been granted an exclusive worldwide license to develop, manufacture and commercialize the PharmaNess cannabinoid portfolio, currently including over a dozen preclinical compounds. These compounds may have broad utility, including cannabinoid agonists for pain, glaucoma and other CNS-related disorders, and cannabinoid antagonists for obesity. The collaboration between CeNeRx and PharmaNess also includes drug discovery efforts aimed at further expanding their joint cannabinoid portfolio.
“Gaining access to this rich pipeline of cannabinoid compounds represents a unique opportunity for CeNeRx,” said Barry Brand, chief executive officer of CeNeRx BioPharma. “These compounds work via a novel, yet well-described mechanism-of-action, have excellent selectivity and could potentially be applied to large indications with significant unmet need.”
Mr. Brand continued, “The researchers at PharmaNess have developed considerable expertise in the pharmacology of cannabinoids, and we look forward to working with them to develop the next generation of cannabinoid drug candidates that will be further optimized for their target indication in such areas as cancer pain, obesity and glaucoma.”
Under the terms of the agreement, PharmaNess Neuroscience will receive an upfront payment from CeNeRx, as well as development milestones. PharmaNess will also receive royalties on global sales of any commercialized cannabinoid compounds.
“We believe our cannabinoid series has substantial clinical and commercial potential and we are pleased to be collaborating with CeNeRx for its development,” said Dr. Luca Pani, chief executive officer of PharmaNess Neuroscience Inc. “The CeNeRx team has strong expertise in CNS drug development and a demonstrated commitment to identifying and advancing innovative drug candidates rapidly and efficiently. We look forward to a productive collaboration to further our mission of generating important new drugs that address serious, under-treated CNS-related conditions.”
PharmaNess Neuroscience is a mixed public-private company based in Sardinia, Italy created by the University of Cagliari and Consiglio Nazionale delle Ricerche. It conducts basic research in the neurobiological bases of disorders of the central and peripheral nervous system and aims to identify new therapeutic strategies in the areas of addiction, pain, depression, schizophrenia and anxiety.
About CeNeRx BioPharma
CeNeRx (SEN-er-ex) is a privately held clinical stage biopharmaceutical company developing and commercializing innovative treatments for diseases of the central nervous system. CeNeRx’s most advanced compounds, reversible inhibitors of monoamine oxidase, or RIMAs, are in late preclinical and Phase I development for the treatment of major depressive disorder. RIMAs may have efficacy advantages over current agents for depression and are expected to have a good safety profile. The company is also developing its preclinical pipeline of selective cannabinoid compounds for the treatment of pain, glaucoma and obesity. More information about CeNeRx BioPharma can be found at www.cenerx.com.
GendeLLindheim BioCom Partners
Barbara Lindheim
212 918 4650
CeNeRx BioPharma, Inc.
CONTACT: Barbara Lindheim, GendeLLindheim BioCom Partners, +1-212-918-4650
Web site: http://www.cenerx.com//
