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news.Icagen has extended its R&D agreement with Abbott to discover and develop small molecule drugs that target a specific ion channel for the treatment of neuropathic and inflammatory pain. The renewal provides for continued R&D support by Abbott through December 31, 2005.
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The molecular target is one of several ion channel targets Icagen has identified for the treatment of pain.
The Icagen/Abbott collaboration in pain, which began in 2001, provided for an initial upfront payment, research funding and milestone payments to Icagen in return for worldwide rights to lead compounds generated for the treatment of neuropathic and inflammatory pain. Additionally, Abbott will support clinical development and Icagen will receive royalties from the sale of any products generated by the collaboration.
“Neuropathic and inflammatory pain represents an area of substantial unmet medical need,” said Dr Doug Krafte, vice president of biology at Icagen. “In our collaboration with Abbott, which is focused on one particular ion channel target for pain, we have made progress towards the identification of novel therapeutics that we believe may offer important advantages over currently available drugs.”
“Our combined efforts to date have resulted in the identification of several promising compounds that may lead to a new treatment for neuropathic and inflammatory pain,” added Dr P. Kay Wagoner, president and CEO of Icagen. “We are pleased to continue our collaboration with Abbott, and look forward to pursuing our joint efforts in this important area of medical research.”