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news.Roche has made an initial payment of $2 million to retain its option to license Memory Pharmaceuticals' MEM 3454, a novel drug hoped to provide treatment for central nervous system disorders.
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New Jersey-based Memory Pharmaceuticals began a partnership with Roche in 2003. The project, known as the nicotinic alpha-7 collaboration, is focused on the development of nicotinic alpha-7 receptor agonists for the treatment of neurological and psychiatric disorders.
Roche elected to make this first milestone payment of $2 million in order to maintain its option to obtain an exclusive license for MEM 3454, Memory Pharmaceuticals’ lead drug candidate in the nicotinic alpha-7 agonist program. The payment was triggered by Memory Pharmaceuticals’ preclinical work on MEM 3454 and the initiation of a phase I clinical trial earlier this year.
The nicotinic alpha-7 collaboration, one of two separate collaborations between Memory Pharmaceuticals and Roche, currently includes two named development candidates, MEM 3454 and MEM 63908. Under the terms of the collaboration, Memory Pharmaceuticals will lead the development of its nicotinic alpha-7 agonist compounds, including MEM 3454 and MEM 63908, through phase IIa.
Roche has the right to obtain an exclusive license for each nicotinic alpha-7 agonist compound following the completion of phase IIa clinical trials.
Memory Pharmaceuticals commenced dosing of MEM 3454 in healthy volunteers in February 2005. The phase I study is being conducted in Toronto, Canada, under a clinical trial application filed with Health Canada. The study is a single center, double-blind, placebo-controlled clinical study to evaluate the safety, tolerability and pharmacokinetics of single ascending doses of MEM 3454.