Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Acorda Therapeutics has reported the acquisition of certain assets of Neurorecovery. Acorda was assigned two key licensing and research agreements relating to the use of aminopyridines in peripheral neuropathies and to two early-stage development candidates.
Subscribe to our email newsletter
Acorda also acquired Neurorecovery’s preclinical and clinical data, regulatory filings, copyrights, trademarks and domain names relating to the three products. Two Phase II studies of the aminopyridine compound Ampydin (IR) for the treatment of chronic functional motor and sensory deficits resulting from Guillain-Barre syndrome have been completed.
The acquisition is expected to enable Acorda to explore additional therapeutic indications for its investigational compound Fampridine-SR, as well as gain access to preclinical compounds that may have utility in nervous system disorders.
Acorda issued 100,000 shares of its common stock as the purchase price for these assets. Acorda said that the transaction will be accounted for as an acquisition of in-process R&D assets and, as such, will result in a non-cash expense in the first quarter of 2008 of approximately $2.7 million.