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Cenomed, Inc. Secures License
From Medical College Of Georgia To Intellectual Property And Technology
For The Treatment Of Human Cognitive Disorders
IRVINE, Calif. Nov. 22, 2004 --- Cenomed Inc. today announced
the execution of a licensing agreement with the Medical College of Georgia
(MCG) Research Institute in Augusta, Ga., for worldwide development rights
to a novel series of analogs designed to target multiple brain substrates
expected to have synergistic action in the treatment of human cognitive
disorders such as Alzheimer's disease.
"These compounds were designed to target components of acetylcholine
neurons that would act synergistically to enhance cholinergic function,"
said Dr. Jerry J. Buccafusco, pharmacologist, director of the MCG
Alzheimer's Research Center and co-inventor of the compounds. "The
strategy was to develop compounds with multiple targets relevant for
providing neuroprotection, enhancing cognition and memory but avoiding the
serious side effects attributed to currently marketed drugs used to treat
Alzheimer's disease."
"Typically, when technology is licensed from a university, a company then
initiates an internal research program," said David Helton, CSO of Cenomed.
"In this case, we plan to work closely with Dr. Buccafusco and his
colleagues at MCG to develop these compounds into possible pharmaceutical
products."
Cenomed will make additional investments totaling $1.1 million for further
development of the licensed technology. The company also may enter
strategic partnerships with larger pharmaceutical companies to develop
drugs from the research and development efforts conducted by Cenomed and
MCG.
"This licensing agreement expands Cenomed's scope of research and
potentially gives us a broader pipeline for developing therapies for unmet
medical needs," said Dr. Paul Mazur, incoming CEO and COO of Cenomed.
Additional financial terms were not disclosed.
The deal was negotiated with the MCG Office of Technology Transfer and
Economic Development, which handles the intellectual property of MCG, a
university with a rapidly expanding research program that generates a
constant flow of new technology and patents. Dr. Michael Gabridge,
director of the office and an associate vice president at MCG, noted, "We
are very optimistic about the Cenomed agreement since the principals have
so much experience in the drug development arena. They understand the
licensing paradigm, and what it takes to develop an effective compound and
get it safely, ultimately, to the patient."
About Cenomed Inc.
Cenomed Inc. based in Irvine, Calif., is a privately held
biopharmaceutical company that is developing innovative new drug therapies
for the treatment of nervous system disorders such as schizophrenia,
neuroprotection, mild cognitive impairment and memory/attention
impairments associated with aging, attention deficit hyperactivity
disorder, pain counter-terrorism and biodefense. The disorders targeted by
Cenomed encompass a $40 billion pharmaceutical market segment that is
growing in excess of 18 percent per year. More information on Cenomed is
available at www.cenomedpharma.com
.
The compounds Cenomed is developing in conjunction with MCG researchers
will target Alzheimer's disease, which affects more than 4 million
Americans. As the U.S. population ages over the next 20 years, that number
is expected to double. Alzheimer's disease is the fourth leading cause of
death in the United States and is characterized by the progressive death
of brain cells containing acetylcholine. A chronic and ultimately fatal
condition, Alzheimer's may progress rapidly, but can take up to 20 years
to run its course. Although tremendous advances have been made in the last
decade, a substantial need persists for drugs to address the memory loss
and reasoning difficulties that characterize Alzheimer's disease.
CONTACT:
David Helton
Cenomed, Inc.
22865 Lake Forest Drive
Lake Forest, CA 92630
PHONE. 949-340-0070
FAX. 949-770-8756
EMAIL: david.helton@cenomedpharma.com
KEYWORDS: Pharmaceutical, Drug Development, BioDefense
SOURCE: Cenomed, Inc.
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