Icagen Forms Collaboration With Yamanouchi To Develop Cns Therapeutics

BT Catalyst, April, 2000

ICAgen Inc. of Research Triangle Park and Yamanouchi Pharmaceutical Co. Ltd. of Japan have entered into a collaboration to develop novel products for several central nervous system (CNS) disorders.

The collaboration will apply ICAgen's proprietary ion channel technologies within one ion channel gene family, which is involved in CNS physiology and pathophysiology.

Ion channels are found in all cellular membranes and regulate the flow of ions such as potassium, sodium and calcium in to and out of cells, thereby affecting multiple physiological processes within the human body.

The collaboration provides opportunities for both companies to develop and commercialize products for central nervous system disorders.

Under the terms of the agreement, ICAgen will receive pre-commercialization payments including an upfront payment, research funding and milestones. In addition, ICAgen will receive royalties on products commercialized by Yamanouchi, one of Japan's largest pharmaceutical companies. ICAgen also has the opportunity to develop and commercialize products for certain CNS indications and to commercialize products not pursued by Yamanouchi.

"We are very excited about working with Yamanouchi," said P. Kay Wagoner, Ph.D., president and CEO of ICAgen. "This agreement will accelerate our programs in the CNS area, providing ICAgen access to Yamanouchi's world-class compound libraries and drug development capabilities. This agreement signifies our continued growth as a drug discovery and development organization."