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news.MethylGene has exercised its right to opt-out of further funding in its neurodegenerative collaboration with EnVivo, signed in February 2005.
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EnVivo will continue to research and develop histone deacetylase (HDAC) inhibitors for neurodegenerative disorders such as Huntington’s, Alzheimer’s and Parkinson’s diseases under license from MethylGene. A lead compound has been identified during the collaboration and designated as a clinical candidate by EnVivo. MethylGene will receive royalties on net sales of any approved product as well as a share of any sublicense income from future partnerships EnVivo may enter into with other companies for neurodegenerative programs.
Donald Corcoran, president and CEO of MethylGene, said: “MethylGene has decided to exercise its right to opt out of the collaboration at the development stage for this non-core indication in order to strategically focus resources on our oncology development programs and other preclinical programs.”