TorreyPines Therapeutics, Inc. today announced that it has agreed to sell its Alzheimer’s disease genetics research program to Eisai Co., Ltd. for an upfront cash payment. TorreyPines and Eisai have collaborated on the genetics program since 2002, with the most recent agreement between the parties concluding on September 30, 2008. The Alzheimer’s disease genetics research program focused on the discovery of Alzheimer’s disease targets using whole-genome family-based association screening.
TorreyPines stock is down ~97% on the year and they are running out of cash so I can’t imagine they got a great deal on this program (hence withholding the price), but when you’re fighting to stay alive, any cash that gets you to the next milestone is important.
TorreyPines Therapeutics, Inc. Sells Alzheimer’s Disease Genetics Program to Eisai Company, Ltd.
-(Via BioSpace.com Featured News and Stories.)
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Eben is a highly caffeinated business development associate at a small, cash sensitive pharmaceutical company somewhere in Massachusetts. He enjoys cliche-less banter, compartmentalization, non-equilibrium thermodynamics and NPV analysis. Agree or disagree with what he's posted? He encourages comments.
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