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BTG LICENSES NEW CLASS OFPPSYCHIATRIC DRUGS TO ABIOGEN PHARMA S.P.A
Abiogen Pharma S.p.A is a private Italian company with a track record of innovative biotechnology and pharmaceutical research. BTG will receive £2 million in upfront payments as well as significant pre-agreed development milestone payments and royalties on net sales. In 2001, the global antidepressants and anxiety market accounted for 44% of the $40 billion Central Nervous System market1. These compounds are the first in a new class of non-sedating, non-addictive drugs to treat anxiety and depression. BTG 1640, which recently entered Phase I clinical trials at Abiogen, is being developed to treat clinical anxiety states such as panic disorder. BTG 1675A, in pre-clinical phase, has been shown additionally to have potential as an antidepressant. Worldwide, more than 490 million people are affected by anxiety1. Current medications can be slow to take effect or may be addictive and patients may develop withdrawal reactions upon stopping treatment. BTG acquired the IPR to these compounds, together with several other molecules from the Universities of Bradford, Reading, Southampton and Sussex in the UK. BTG 1640 and BTG 1675A were selected as lead candidates due to their promising pharmacological activity in pre-clinical evaluation. Commenting on the agreement, Anthony V. Lando, Chief Operating Officer of BTG, said: “BTG has a strong track record in identifying novel pharmaceuticals, helping build them into attractive opportunities through patent management and technical development and then marketing them to the pharmaceutical industry. We are pleased that Abiogen has chosen to develop BTG 1640 and BTG 1675A for these important medical conditions.”
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