Addrenex licenses new narcolepsy drug

Addrenex Pharmaceuticals, a specialty pharmaceutical company, has signed an agreement to license a new drug for the treatment of narcolepsy, as well as other neurologic and psychiatric conditions.

The agreement to license ADX-N05 gives Addrenex the worldwide rights (excluding East Asia) to develop, manufacture and commercialize the compound from SK Life Science business division, the drug-discovery and development division of SK Holdings Co, one of the largest multinational companies based in South Korea.

The licensing deal with SK Holdings provides Addrenex with its fourth drug candidate to enter clinical trials in three years. Each of Addrenex’s drugs in development focuses on the treatment of medical conditions arising from an overactive or improperly regulated adrenergic system, a group of hormones and brain chemical messengers known as neurotransmitters.

Addrenex also plans to develop drugs to treat menopausal flushing and potentially pain, insomnia and migraines, all of which are impacted by the adrenergic system.

Addrenex plans to begin Phase II testing of ADX-N05 as a treatment for narcolepsy later in 2009. The company may also investigate ADX-N05 as adjunct therapy for depression. Under the terms of the contract, Addrenex will pay licensing fees and royalties to SK Holdings Co, as well as milestone payments for achieving specific clinical endpoints and sales performance goals.

Moise Khayrallah, CEO of Addrenex, said: ADX-N05 represents a significant advance toward expanding our product portfolio into a more diverse set of disorders for which there is a considerable unmet need for treatment. As an orphan disease, narcolepsy has few treatment options on the market that are safe, convenient and address all the symptoms of the disorder.