BRANFORD, Conn., Feb. 16 /PRNewswire-FirstCall/ -- Neurogen Corporation today announced that Merck & Co., Inc. has commenced Phase I clinical trials of NGD-8243, a leading drug candidate for treating pain, and one of several drug candidates being developed as the result of the companies’ exclusive worldwide alliance to develop oral therapeutics targeting the VR1 receptor.
The Phase I clinical trial being conducted by Merck in Europe is a randomized, double-blind, placebo-controlled evaluation of the safety and pharmacokinetics of single ascending oral doses of NGD-8243 in healthy volunteers. The initiation of Phase I studies triggers a milestone payment of $2 million from Merck to Neurogen.
“We are very pleased to enter human testing with NGD-8243, and excited by the progress made through this alliance. Drawing on the respective strengths of Neurogen and Merck, we’ve been able to make important contributions to the field of VR1 research and have struck a rich vein of chemical matter, from which we are bringing multiple candidates forward,” said William H. Koster, PhD, President and CEO of Neurogen. “Drugs acting on this target have the potential to not only alleviate pain, particularly arising from inflammatory states, but also to treat urinary incontinence and upper airway disease making this a particularly exciting area of new drug discovery.”
About the VR1 Program
Neurogen’s exclusive worldwide alliance with Merck to research, develop and commercialize next-generation drugs for the treatment of pain and other disorders commenced in January 2004. The partnership enabled Merck and Neurogen to pool drug candidates targeting the type 1 vanilloid receptor (VR1), a key integrator of pain signals in the nervous system, and combine their ongoing VR1 programs to form a global research and development collaboration. Merck paid a $15 million license fee and purchased $15 million in Neurogen stock when the collaboration was consummated. Merck also provides ongoing research funding and license maintenance payments and Neurogen is eligible to receive milestone payments and royalties upon the successful development and commercialization of drug candidates.
About Neurogen
Neurogen Corporation is a drug discovery and development company focusing on small molecule drugs to improve the lives of patients suffering from disorders with significant unmet medical need, including insomnia, pain, depression, obesity, and inflammation. Neurogen has generated a portfolio of compelling new drug candidates through its Accelerated Intelligent Drug Discovery (AIDD(TM)) system, its expertise in cellular functional assays, and its depth in medicinal chemistry. Neurogen conducts its research and development independently and, when advantageous, collaborates with world-class pharmaceutical companies.
Neurogen Safe Harbor Statement
The information in this press release contains certain forward-looking statements that involve risks and uncertainties as detailed from time to time in Neurogen’s SEC filings, including its most recent 10-K. Actual results may differ materially from the statements made as a result of various factors, including, but not limited to, risks associated with the inherent uncertainty of drug research and development, difficulties or delays in development, testing, regulatory approval, production and marketing of any of the Company’s drug candidates, adverse side effects or inadequate therapeutic efficacy or pharmacokinetic properties of the Company’s drug candidates or other properties of drug candidates which could make them unattractive for commercialization, advancement of competitive products, dependence on corporate partners, sufficiency of cash to fund the Company’s planned operations and patent, product liability and third party reimbursement risks associated with the pharmaceutical industry. Future results may also differ from previously reported results. For example, positive results or safety and tolerability in one clinical study provides no assurance that this will be true in future studies.
Neurogen Corporation
CONTACT: Elaine Grimsell Dodge of Neurogen Corp., +1-203-315-4615,edodge@nrgn.com
Web site: http://www.neurogen.com/
