Proximagen acquires CNS assets from GSK
Will further develop α7 and D1 programmes into clinical development
Proximagen Group, a UK developer of treatments for disorders of the central nervous system (CNS), has acquired the global rights to two of GlaxoSmithKline’s drug development programmes to target diseases of the CNS. Financial terms have not been disclosed.
Proximagen said it is acquiring these assets following GSK’s announcement in February that it would be stopping drug discovery efforts in some areas of neurosciences, including psychiatry and pain.
The programmes, which have so far been supported with substantial investment from GSK, develop positive allosteric modulators (PAMs) and have the potential to address the needs of patients suffering from a variety of disorders of the CNS including cognition, neuropathic pain, and Parkinson’s disease.
The more advanced programme targets the α7 nicotinic acetylcholine receptor (nAChR) and has a Phase I-ready compound, which has been effective in relevant models of disease while at GSK.
The second programme is at an earlier stage and targets the dopamine D1 receptor, which is implicated in several neurological indications, including Parkinson’s disease. This D1 programme complements Proximagen’s PRX5 programme investigating cognition in Parkinson’s disease and will further the company’s understanding of potential treatment pathways.
Proximagen’s existing portfolio includes more than 15 therapeutic programmes addressing diseases of the CNS, inflammation and oncology. The company said the further development of the α7 and D1 programmes will be undertaken by its existing CNS drug development team. In addition, the clinical development of the assets will be monitored by Jackie Hunter, Proximagen board member, who was formerly with GSK, holding a range of roles including senior vice president and head of the neurology and GI Centre of Excellence for Drug Discovery (CEDD).
‘Proximagen has had the opportunity to review a considerable number of external drug development programmes since its £50m fundraising in June 2009 and we are delighted that GSK has agreed to entrust these high-quality development programmes to us,’ said Kenneth Mulvany, chief executive of Proximagen.
‘The acquisition of these programmes from GSK broadens Proximagen’s pipeline and leverages our significant expertise in the development of drugs to address diseases of the CNS.’
