ATLANTA, July 24, 2007 (PRIME NEWSWIRE) -- Tikvah Therapeutics, Inc. (Tikvah) and Academia Sinica of Taipei, Taiwan announced today that Tikvah has entered into an exclusive licensing agreement for a number of patent and patent applications with Academia Sinica encompassing the diagnosis, methods of use, and treatments of a variety of neurodegenerative disorders, including, amongst others, spinal muscular atrophy.
The subject of this agreement is technology developed at Academia Sinica by Dr. Hung Li and his colleagues. Their work has suggested that treatment with certain classes of drugs can be used to treat neurodegenerative diseases, including spinal muscular atrophy.
"We are delighted that Tikvah Therapeutics sees the potential benefit of our technologies for the treatment of neurodegenerative diseases," said Dr. Li, Professor of Academia Sinica. "Our work represents the culmination of many years of laboratory and clinical studies. We are excited that Tikvah Therapeutics will be undertaking the clinical development of these agents so that our discoveries will be commercialized to help the many patients suffering from the debilitating and devastating consequences of spinal muscular atrophy and other neurodegenerative diseases."
Under the terms of the agreement, Tikvah will pay a licensing fee, potential milestones, and royalty payments in exchange for an exclusive license to pursue the commercial development of the technology for the treatment of SMA and other neurodegenerative diseases.
"We believe that the technology developed by Dr. Li and his colleagues at Academia Sinica represents a promising approach to the treatment of spinal muscular atrophy," said Dr. Harold H. Shlevin, President and Chief Executive Officer of Tikvah Therapeutics. "We are excited about the potential application of these technologies that broaden our understanding of the pathogenesis of SMA and provide a means to address the large unmet medical need for treatments of SMA and certain neurodegenerative diseases."
About Spinal Muscular Atrophy
Spinal muscular atrophy (SMA) is a genetic, motor neuron disease characterized by wasting of the skeletal muscles caused by progressive degeneration of the anterior horn cells of the spinal cord. The disease causes weakness and atrophy of the voluntary muscles, more commonly in the legs than in the arms. Patients with SMA either do not acquire, or progressively lose the ability to walk, stand, sit, and, eventually, move. Cognition and intellect, emotional development, and sensory nerves are unaffected.
SMA is one of the most prevalent genetic disorders. It can strike anyone of any age, race, or gender. One in every 40 people carries the gene that causes SMA. The child of two carriers has a 25 percent chance of developing SMA.
There are four types of SMA generally recognized; however, they are rare, occurring in one in 8,000 to 10,000 births in the United States. SMA type I, also called Werdnig-Hoffman disease, is the most severe form, which strikes infants between birth and six months old. Babies affected with type I cannot sit without support and 50 percent will die before their second birthday. SMA type II affects infants between seven and 18-months old. Children affected by SMA-Type II may be unable to stand or walk and are at increased risk for complications from respiratory infections. SMA type III, also known as Kugleberg-Welander disease, is the least deadly form of childhood-onset SMA. It strikes children as early as 18 months, but can surface as late as adolescence. SMA type III patients are able to walk, but weakness is prevalent. Most patients eventually need to use a wheelchair. Adult SMA (SMA type IV) may begin between 40 and 60 years of age and progresses rapidly. Symptoms may include paralysis and atrophy of the leg muscles, arm muscle weakness, and respiratory problems.
Further information on SMA maybe found at www.fsma.org , www.smafoundation.org, www.fightsma.org, www.projectcuresma.org , amongst others.
About Tikvah Therapeutics, Inc.
Atlanta-based Tikvah Therapeutics, Inc. focuses on exploring new uses for late-stage pharmaceutical compounds in selected therapeutic indications of central nervous system diseases, including neurology and psychiatry disorders. Its focus is on new therapeutic uses that have been confirmed in multiple, clinical proof-of-concept studies. This strategy shortens product development timelines and substantially decreases the risk associated with the research and development efforts. A second prong of its strategy is to focus on specialized products with multiple stepping-stone indications and strong patent protections, thus helping to ensure long product life cycles and manageable commercial risk. Tikvah Therapeutics was founded by Paramount BioSciences, LLC. For additional information about Tikvah Therapeutics, please visit www.tikvahtherapeutics.com.
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About Academia Sinica
Academia Sinica is a preeminent academic institution that was founded in 1928 to promote scholarly research in China and to undertake academic research in sciences and humanities. In 1949, Academia Sinica was re-established in Taipei, Taiwan.
Today, Academia Sinica is a modern research institution with a worldwide reputation and a proud tradition. Its 24 research institutes and six research centers are headed by world-class scholars and staffed by highly trained, motivated and creative investigators. Major strides have been made to promote internal integration of research activities in its three research disciplines (mathematics and physical sciences, life sciences, and the humanities and social sciences); to harness basic research results for applications and technology transfer; to engage the academic and research community within Taiwan toward a modern and forward-looking collective academic vision; to cultivate an intellectual environment that is conducive to the nurturing of young scholars and the recognition of outstanding scholarship in Taiwan; and to promote international cooperation and scholarly exchange that will accelerate the overall development of academic research in Academia Sinica and throughout the region.
About Paramount BioSciences
Paramount BioSciences, LLC is a global drug development and healthcare investment firm that conceives, nurtures, and supports new biotechnology and life-sciences companies. For additional information about Paramount BioSciences, please visit www.paramountbio.com.
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