Ergomed Signs Co-Development Deal With CeNeS Pharmaceuticals Plc
Posted on: Thursday, 13 July 2006, 06:00 CDT
Ergomed today announced that it has signed a co-development deal with CeNeS Pharmaceuticals to take CNS5161, a novel NMDA antagonist, into a Phase II trial programme for neuropathic pain. Terms of the deal were not disclosed.
Ergomed operates a dual business model for the clinical development of therapeutics for oncology, neurology and immunology. Although the core of the business offers standard clinical trial management contracts to pharmaceutical and biotechnology companies, Ergomed recently started offering co-development partnerships to share the risk and rewards of clinical development. After completing extensive due diligence on CNS 5161 this is the first co-development deal that Ergomed has signed out of a range of different opportunities.
"We are delighted to be continuing our collaboration with CeNeS by investing in the development of CNS5161, which has shown promising potential in Phase IIa trials to date. The clinical development plan we have jointly agreed is flexible and comprehensive, building on our broad experience and expertise in this therapeutic area" said Dr Miroslav Reljanovic, Chief Executive Officer for Ergomed. "We are delighted to launch our co-development strategy with a deal such as this. With licensing partners increasingly waiting until late in the drug development process, we see our approach as helping small and medium sized biotech and Pharma companies bridge the 'Phase II gap'."
ERGOMED is a specialised international clinical development company offering contract clinical research and co-development partnerships to biotechnology and pharmaceutical companies worldwide in the fields of neurology, oncology and immunology. Ergomed's approach to clinical research ensures effective patient recruitment, reducing the time and costs of clinical trials and complementing the drug discovery capabilities of its customers and partners. The Company has a dual business model offering standard clinical trial management contracts and also co-development partnerships to share the risks and rewards of clinical development. Ergomed is headquartered in Frankfurt, Germany, and has offices in Croatia, Serbia, Poland, the UK and the USA. For further information visit www.ergomed-cro.com
Source: Business Wire
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