ITI is developing novel drugs for the treatment of schizophrenia, depression, Parkinson’s and Alzheimer’s disease and other disorders of the central nervous system (CNS).
Under the terms of the agreement, Intra-Cellular Therapies (ITI) will pay to Bristol-Myers Squibb an upfront license fee, development-based milestone payments and royalties should the compound receive regulatory approval for commercialization.
“This agreement provides ITI with a portfolio of compounds with potential to be effective treatments for schizophrenia and other therapies for CNS indications such as Tourette’s syndrome, bipolar disorder, and obsessive-compulsive disorder,” said CEO and chairman of ITI, Dr Sharon Mates. “The compounds complement our internal pipeline of small molecule therapeutics developed using ITI’s drug discovery platform.”
The first product under development discovered using ITI’s proprietary technology platform is a small molecule therapeutic for the treatment of Parkinson’s disease and other CNS disorders.