Memory Pharmaceuticals compound MEM1414 to be developed by Roche for treatment of Alzheimer's disease
Montvale, NJ - March 3, 2003
Memory Pharmaceuticals Corp. announced today that Roche has selected a Memory compound, MEM1414, initially for the treatment of Alzheimer's disease as a clinical candidate. MEM1414 has been optimized for efficacy and safety by Memory Pharmaceuticals using its technology platform.
Roche and Memory Pharmaceuticals Corp. announced a broad alliance in July 2002 for development and commercialization of potential treatments for neurological diseases such as Alzheimer's and mild cognitive impairment, as well as for psychiatric conditions such as depression. Under the alliance, Roche made an up-front payment, and is providing research & development funding, with potential product development milestone payments to Memory, as well as royalties on product sales.
"The promise of MEM1414, discovered at Memory, has been demonstrated by the speed with which the compound is moving into clinical studies, in collaboration with the excellent capabilities of our partner Roche," said Tony Scullion, Chief Executive Officer of Memory Pharmaceuticals.
Axel Unterbeck, Ph.D., President and Chief Scientific Officer at Memory said: "Reaching this significant milestone together with Roche underscores the high productivity of our drug discovery and development capabilities at Memory for moving promising drug candidates rapidly into clinical studies."
About Memory Pharmaceuticals
Memory Pharmaceuticals is highly specialized in the discovery and development of innovative treatments for learning and memory impairments associated with disease and ageing. Memory has a fundamental understanding of the molecular pathways involved in forming new memories based on the pioneering scientific achievements of its distinguished co-founder and 2000 Nobel Laureate, Eric Kandel. Memory has built a state-of-the-art platform interfacing highly specialized medicinal chemistry, biological and drug development disciplines to rapidly produce clinically relevant drug candidates. The combination of discovery and development expertise and pharmaceuticals management experience makes Memory Pharmaceuticals the premier neuropharmaceutical partner.