The collaboration will focus on the optimization of lead compounds identified by Memory Pharmaceuticals and that have demonstrated effectiveness in the selective inhibition of PDE10 activity in several animal models.
Under the collaboration, Memory Pharmaceuticals will receive an upfront payment of $5 million, and the company could also receive significant milestone payments for the successful achievement of research, development, approval and sales events for compounds that progress under the collaboration.
In addition, Memory Pharmaceuticals is eligible to receive royalties that will increase with increasing sales levels on worldwide sales of marketed products from the collaboration. Over the next two years of the collaboration, Memory Pharmaceuticals could receive research funding of $5.1 million.
“PDE10 is a very compelling target for treating certain central nervous system disorders, and we are delighted to have Amgen as a partner in our effort to aggressively pursue this target and address the pervasive unmet needs of patients with these disorders,” said Jim Sulat, president and chief executive officer of Memory Pharmaceuticals. “In addition, we believe this collaboration is further validation of Memory Pharmaceuticals’ solid discovery capabilities.”
PDE10 is a class of phosphodiesterases that degrades cAMP and cGMP, molecules that are responsible for improving the function of many different cells in the body, including neurons. By inhibiting PDE10 activity, levels of cAMP and cGMP are increased within neurons, and the ability of these neurons to function properly is thereby improved. PDE10 has been shown to be present at high levels in neurons in areas of the brain that are closely associated with many neurological and psychiatric disorders.