 |
 |
I wonder if any of our UK members know more about this? **** Bristol-Myers, NeuroSearch sign Parkinson's drug accord ---------------------------------------------------------------------- Copyright ) 1996 Nando.netCopyright ) 1996 Bloomberg NEW YORK (Jan 17, 1996 6:46 p.m. EST) -- Bristol-Myers Squibb Co. signed alicensing agreement with NeuroSearch A/S in which the Danish company will receive as much as $29 million for rights to its oral compound to treat Parkinson's disease. The agreement gives Bristol-Myers exclusive rights to develop and market the compound worldwide, except in Scandinavia, the Baltics and Japan. NeuroSearch scientists discovered the compound, known as NS2214, and the company completed a Phase I clinical trial of the drug in the U.K. While the two companies will work closely on further development of the compound, Bristol-Myers is "in effect picking up the ball from here," said William Dunnett, a spokesman for the Pharmaceutical Research Institute,Bristol-Myers' research and development unit in Princeton, New Jersey. The agreement will last until the compound's patent expires, which should be "at least 10 years," Dunnett said. Copenhagen-based NeuroSearch will receive an undisclosed amount of royalties in addition to as much as $29 million in payments from Bristol-Myers, the companies said. Parkinson's disease is a neurological disease whose symptoms include muscle rigidity and slow movement. It afflicts more than 1.5 million Americans, according to the American Parkinson's Disease Association. NeuroSearch researches the development of products for the treatment of diseases of the central nervous system. New York-based Bristol-Myers makes and markets non-prescription drugs, medical devices and health and skincare products. **** Janet Paterson, 48, 7, [log in to unmask] Bermuda