The alliance is focused on the discovery and clinical development of nicotinic alpha-7 receptor agonists for the treatment of neurological and psychiatric disorders.
The decision was triggered by Memory Pharmaceuticals’ phase I data on MEM 3454, which satisfied a set of criteria that was pre-defined by Roche.
“This second milestone payment under the option agreement underscores Roche’s continued commitment to MEM 3454, a compound which has the potential to be a novel treatment for important central nervous system disorders such as Alzheimer’s disease and schizophrenia,” stated David Lowe, chief scientific officer of Memory Pharmaceuticals.
Under the terms of the nicotinic alpha-7 alliance, Memory Pharmaceuticals is responsible for the development of MEM 3454 through phase IIa clinical trials. Roche has the right to obtain an exclusive license for MEM 3454 following the completion of the trials. Roche will maintain this right through the development process by making three payments to Memory Pharmaceuticals upon certain pre-established development milestones.
Memory Pharmaceuticals and Roche are also collaborating on the development of additional nicotinic alpha-7 receptor agonists. In February 2006, Memory Pharmaceuticals granted Roche a license to its intellectual property on all nicotinic alpha-7 receptor compounds excluding MEM 3454.