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news.Galenea, a biopharmaceutical company, and Otsuka Pharmaceutical, a healthcare company, have announced the extension and expansion of their R&D collaboration.
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The two companies have been working together since January 2005 to discover and develop novel therapies for schizophrenia and other central nervous system (CNS) diseases.
The new agreement calls for a one-year extension of the initial five-year alliance and brings the total committed funding for the collaboration to over $75 million.
Otsuka will have exclusive worldwide rights to develop, manufacture and commercialize any development candidates generated during the collaboration. Galenea will receive milestone and royalty payments, or alternatively may participate in profit-sharing. Galenea also retains rights to additional targets and associated compounds as well as to the collaboration’s drug screening technologies.
Taro Iwamoto, president and representative director of Otsuka Pharmaceutical, said: “We are enthusiastic about the continuation of this collaboration with Galenea and see good prospects for the selection of several development candidates in the near term.
“Through this collaboration with Galenea, we hope to enhance our research in the CNS field, taking advantage of an unconventional point of view and scientific approach at one of the most advanced places in neuroscience to develop next-generation therapies for CNS diseases.”