D-Pharm Establishes Neuroscience Research Collaboration With Lilly.Business Editors & Health/Medical Writers BIOWIRE2K REHOVOT, Israel--(BW Healthwire)--March 01, 2001 D-Pharm Ltd. announced today that they have entered into a research collaboration and license agreement with Eli Lilly and Company Eli Lilly and Company (NYSE: LLY) is a global pharmaceutical company and one of the world's largest corporations. Eli Lilly's global headquarters is located in Indianapolis, Indiana, in the United States. (NYSE NYSE See: New York Stock Exchange :LLY) to develop novel therapeutics for central nervous system disorders Nervous system disorders A satisfactory classification of diseases of the nervous system should include not only the type of reaction (congenital malformation, infection, trauma, neoplasm, vascular diseases, and degenerative, metabolic, toxic, or deficiency . The research collaboration will focus on modifying the action and disposition of unique pharmacological agents discovered by Lilly by the application of D-Pharm's proprietary lipid vector technologies. Under the terms of the agreement, D-Pharm will chemically modify Lilly's lead drug compounds using its drug re-engineering technologies and Lilly will assess their activity in selected in vitro in vitro /in vi·tro/ (in ve´tro) [L.] within a glass; observable in a test tube; in an artificial environment. in vi·tro adj. In an artificial environment outside a living organism. and in vivo in vivo /in vi·vo/ (ve´vo) [L.] within the living body. in vi·vo adj. Within a living organism. in vivo adv. models. Lilly will make an equity investment in D-Pharm and will have an option to exclusively license the resulting compounds for worldwide development and commercialization. Under the license agreement, D-Pharm will receive license fees and development milestones, as well as royalties on worldwide sales. In the case where Lilly does not exercise its option, D-Pharm may have a reciprocal option to exclusively license collaboration compounds under the same financial terms. D-Pharm technology is based on scientific findings that lipids may play a role in modulating cell function. D-Pharm's approach is to link a lipid molecule to a drug, creating a prodrug. Specific lipids will be tested for enhancing the delivery of the prodrug to tissue targets and barrier-protected organs, such as the brain, and for the active drug release. This approach may enable the development of more selective and potent and less toxic drugs. "We are happy to announce this research collaboration in the neuroscience area," said Dr. Itzchak Angel, D-Pharm's Vice President of R&D. "We are confident of our ability to deliver value to Lilly," he added. "While this collaboration focuses on one specific project, the opportunity exists for Lilly to consider D-Pharm's technology for additional CNS See Continuous net settlement. CNS See continuous net settlement (CNS). programs in the future." "We are proud to announce that Lilly, a world leader in neuroscience drug discovery and commercialization, has selected D-Pharm as its partner for this program," said Dr. Alex Kozak, D-Pharm's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Indeed, our goal is to become the pharmaceutical companies' partner of choice in their quest for rationale drug design, lead optimization and drug development," he continued. About D-Pharm Ltd. D-Pharm is an emerging biopharmaceutical company applying innovative drug re-engineering technologies to the development of new drugs. These include newly-discovered compounds and improved, patent-protected derivatives of existing drugs for treatment of neurological disorders, cerebrovascular diseases, inflammation, cancer and AIDS. DP-b99, D-Pharm's neuroprotective agent neuroprotective agent Neurology Any agent or drug that protects the brain from secondary injury caused by stroke. See Stroke. for stroke recently successfully completed a Phase I safety assessment. Worldwide rights to develop and market DP-VPA, the company's Phase II product for epilepsy, bipolar disorder bipolar disorder, formerly manic-depressive disorder or manic-depression, severe mental disorder involving manic episodes that are usually accompanied by episodes of depression. and migraine prophylaxis was licensed in March 2000 to Shire Pharmaceuticals. D-Pharm recently initiated a collaboration with Nycomed Amersham Imaging. For further information, visit: www.dpharm.com. |
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