AlzeCure Pharma AB, which develops small-molecule drug candidates for CNS diseases with a focus on Alzheimer’s disease and pain, has entered into an outlicensing and collaboration agreement with QuantumCell ApS, a Danish tech-enabled biotech company.
The deal focuses on the global rights to AlzeCure’s Alzheimer’s platform, NeuroRestore, including the leading drug candidate ACD856.
AlzeCure will receive a total upfront payment of $12m, of which $5m constitutes a direct investment in AlzeCure (at a 30% premium to the average share price of SEK 3.78 for the last 10 trading days).
Furthermore, the agreement contains set development and commercial milestone payments, as well as tiered single-digit to low double-digit royalties on sales.
The total deal value, excluding royalty payments, exceeds $2.2bn.
NeuroRestore ACD856 is a small-molecule positive modulator of both NGF/TrkA and BDNF/TrkB mediated signalling (Trk-PAM) that has been shown in preclinical studies to enhance communication between neurons and improve cognitive function, including learning and memory functions.
The drug candidate, which is in clinical development, has in previous preclinical studies shown that it has neuroprotective, anti-inflammatory and disease-modifying effects in several preclinical models.
The unique pharmacological mechanism of NeuroRestore enables multiple indications, such as Alzheimer's and Parkinson's disease, but also depression.
“With the positive clinical results that we previously obtained with ACD856, as well as the preclinical results that support both cognitive-enhancing abilities, neuroprotective and potent antidepressant effects, this is a very innovative and promising drug candidate for a wide range of indications,” said Johan Sandin, Chief Scientific Officer at AlzeCure Pharma.
The acquiring party, the Danish biotech QuantumCell, is engaged in pharmaceutical development.
“The outlicensing and collaboration agreement with QuantumCell is another important milestone for AlzeCure," said AlzeCure Pharma’s CEO Martin Jönsson.
"This first-in-class Trk-PAM drug project has been developed from idea to clinical phase in-house and shows the capabilities within AlzeCure. With this agreement, we see the opportunity for the project’s assets to reach and benefit several different patient groups earlier.”
