BrainCells Inc., the San Diego-based developer of drugs for depression and other neurological disorders, said today it has acquired a drug from London-based Proximagen that could have potential against various psychiatric diseases. BrainCells has agreed to pay as much as $51 million in upfront and milestone payments, plus royalties on future product sales, for the right to develop sabcomeline. The drug has been studied in 3,000 patients, and has been tested against Alzheimer’s disease and schizophrenia. BrainCells said it plans to study the compound as a treatment for depression.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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