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news.Memory Pharmaceuticals has realigned its operations, reallocated its resources and extended the preclinical research portion of its PDE10 collaboration with Amgen.
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The company will focus its near-term and mid- term efforts on two partnered programs, its nicotinic alpha-7 receptor agonist collaboration with Roche and the PDE10 collaboration with Amgen, and two proprietary programs, its PDE4 inhibitor and 5-HT6 antagonist programs. Memory Pharmaceuticals also expects to complete its Phase I program for MEM 63908 and report top-line results in the fourth quarter of 2008.
Memory Pharmaceuticals has realigned its workforce to support its key development and clinical programs. The company has reduced its overall efforts dedicated to discovery research, while maintaining its capabilities in CNS drug discovery to support long-term growth. The company’s overall headcount has been reduced by 20% and the company has shifted its resources toward development activities. The new structure is expected to support the company’s preclinical and clinical activities and business development initiatives.