Selvita and Orion achieve research milestone in Alzheimer's disease program

1 July 2012

Polish biotech firm Selvita (PL:SLV) says that its collaboration with Finland-based Orion Corp (Nasdaq OMX Helsinki: ORNAV) for the symptomatic treatment of Alzheimer’s disease has reached the main research milestone and that the jointly discovered molecules from two different chemical families will progress into further preclinical characterization before the selection of a candidate into development.

The companies entered into a global collaboration with the aim to discover, develop and commercialize SEL103, Selvita’s proprietary program for the treatment of Alzheimer’s disease and other cognitive disorders in 2010. Selvita is responsible for early research on the program and Orion will take over the pre-clinical and clinical development as well as further commercialization.

Under the terms of the agreement, Selvita is responsible for the discovery and Orion is responsible for the development and global commercialization. Financial terms of the accord were not disclosed.

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