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news.Penwest Pharmaceuticals has entered into a research, development, commercialization and license agreement with Edison Pharmaceuticals for the treatment of neurological disorders resulting from defects in cellular energy metabolism.
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The initial focus of the collaboration is to pursue treatments for orphan diseases of the mitochondria – the cellular energy center. Under the terms of the agreement, Penwest has obtained exclusive worldwide rights to develop and commercialize Edison’s drug candidate, EPI-A0001, in all fields of use. A0001 has been granted orphan drug status by the FDA for the treatment of inherited mitochondrial respiratory chain diseases.
Penwest intends to submit an IND and commence clinical development of EPI-A0001 in early 2008. Additionally, Penwest has the exclusive worldwide rights to develop and commercialize one additional drug candidate to be selected from those identified by Edison during the term of the sponsored research collaboration.
The financial terms of the agreement call for Penwest to provide Edison with an upfront payment, a $1 million loan and sponsored research funding for the next 18 months. The aggregate total of these payments and the loan is $7.5 million.
“Our collaboration with Edison will help Penwest accelerate its growth as a specialty pharmaceutical company focused on disorders of the nervous system,” said Jennifer Good, president and CEO of Penwest. “The drug candidates Penwest plans to develop through this collaboration are focused on orphan neurological disorders which currently lack good treatment options.”