MedGenesis Therapeutix, a Canada-based, privately held biotechnology company focused on the development and precision delivery of definitive treatments for neurologic diseases, has entered into an agreement with Pfizer, granting Pfizer an exclusive, worldwide option to license its glial cell line-derived neurotrophic factor (GDNF) protein and convection enhanced delivery (CED) technology to be used in research for potential treatments for Parkinson's disease.

Dr. Erich Mohr, CEO and chairman of MedGenesis said, "We believe that delivering drugs, including proteins, precisely to the regions of the brain where they are required will allow the potential for better treatments for a whole range of central nervous system (CNS) disease, and opens up the opportunity for the potential development of truly disease-modifying treatments of neurological diseases."

MedGenesis currently is running a proof-of-concept study in Parkinson's with its aforementioned GDNF and CED technology. MedGenesis will receive an upfront option fee and, upon exercise of the option by Pfizer, will be eligible for further milestone and royalty payments.

Michael Ehlers, senior vice president, neuroscience research unit, Pfizer said, "With limited treatment options currently available, Parkinson's disease is a devastating illness for patients and families. We believe that this collaboration with MedGenesis has the potential to provide the first disease-modifying treatment that slows the progressive decline in patients, consistent with our commitment to making a difference in areas of high unmet medical need."