« Return to News | Drug Sponsors

Lunudbeck to invest $16 million in Proximagen

Thursday, September 29, 2011 01:00 PM

Danish pharmaceutical group Lundbeck is to invest $6.1 million in British peer Proximagen Group as part of a strategic partnership, the companies said, according to Reuters.

Entering the deal would allow the companies to jointly use their expertise in central nervous system (CNS) drug development, the companies said in a statement.

"Proximagen has built an exciting pipeline which offers real promise in treating a number of CNS disorders," Lundbeck's head of research and development, Anders Gersel Pedersen said.

"This strategic partnership will provide Lundbeck with exposure to some very exciting research programs," Pedersen said.

As part of the deal, a committee involving experts from both companies will focus on developing three of Proximagen's programs, with the aim of identifying new therapies for diseases such as epilepsy, pain and inflammatory disorders, the companies said.

Lundbeck would receive certain negotiation rights in relation to these programs, it said.

"The partnership with Lundbeck validates our strategy and represents a major step forward in realizing the value of key compounds in our pipeline," Proximagen's chief executive officer, Kenneth Mulvany, said.

Share:          
CLINICAL TRIAL RESOURCES

Search:

NEWS ONLINE ARCHIVE

Browse by:

CWWeekly

December 17

Medici Global says its Alzheimer's Facebook page demonstrates the need for more early detection trials

Analysts: Expect more equity purchases of CROs in 2013

Already a subscriber?
Log in to your digital subscription.

Subscribe to CWWeekly.

The CenterWatch Monthly

January 2013

Parexel celebrates 30 years of change, growth
CRO's founder and chairman reflects on challenges of the past, present and future

Strategies for increasing patient diversity in trials
Sponsors look to improve racial, ethnic recruitment without going overseas

Already a subscriber?
Log in to your digital subscription.

Purchase the January issue.

Subscribe to The CenterWatch Monthly.

December 2012

Publicity, regulation tightening reins on use of KOLs
Debate rages over need to revamp how sponsors use, pay medical experts

Time may be right to makeover the investigator brochure
Size, complexity prevent critical document from being thoroughly read

Already a subscriber?
Log in to your digital subscription.

Purchase the December issue.

Subscribe to The CenterWatch Monthly.

JobWatch centerwatch.com/jobwatch

Featured Jobs

More Jobs

 

Copyright © 1995-2013 CenterWatch.