Memory Pharmaceuticals Corp.
Roche Exercises its Option to Further Develop and Commercialize Memory Pharmaceuticals' Nicotinic Alpha-7 Agonist, MEM 3454
Published in Clinical Trials Week, May 12th, 2008
Memory Pharmaceuticals Corp. (NASDAQ:MEMY) and Roche announced that Roche has exercised its option to further develop and commercialize Memory Pharmaceuticals' lead nicotinic alpha-7 agonist drug candidate, MEM 3454, for neurological and psychiatric disorders. Roche's exercise of its option for MEM 3454 triggers a $6 million milestone payment and entitles Memory Pharmaceuticals to future payments upon the achievement of additional milestones and royalties on product sales, including a $17 million milestone payment upon the completion of the ongoing Phase 2a study in cognitive impairment associated with schizophrenia (CIAS). In addition, Memory Pharmaceuticals retains an option to...
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Source: Clinical Trials Week (2008-05-12)
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