Actinogen acquires Edinburgh BioQuarter spin-out Corticrine

Australian biotech firm Actinogen (ASX: ACW) has acquired Edinburgh BioQuarter spin-out, Corticrine. Financial terms of the transaction were not disclosed.

Corticrine is a mid-stage pharmaceutical R&D company focused on the development of novel treatments for disease modification and prevention in Alzheimer’s dementia. It is a spin-out company from the Edinburgh BioQuarter, the commercialization arm of the College of Medicine and Veterinary Medicine of the University of Edinburgh.

Corticrine has licensed worldwide development and commercialization rights to UE2323 from the University of Edinburgh. UE2343 is in clinical development for the treatment of Alzheimer’s disease and has already received considerable funding for the Wellcome Trust Seeding Drug Discovery Program.