Proximagen acquires two CNS drug development programs from GlaxoSmithKline

The UK’s Proximagen Group (AIM: PRX), whose principal focus on the treatment of disorders of the central nervous system, has signed an exclusive agreement with drugs giant GlaxoSmithKline (LSE: GSK) to acquire the global rights to two drug development programs. Both are target diseases of the CNS; the more advanced program is ready to enter the clinic to be investigated for its potential to treat cognition disorders.

Proximagen is acquiring these assets following the announcement early this year by GSK that it would be stopping drug discovery efforts in some areas of neurosciences including psychiatry and pain which were deemed non-core to its plans (The Pharma Letter February 6).

The programs, which have had substantial investment by GSK to date, are designed to develop positive allosteric modulators (PAMs) and have the potential to address the needs of patients suffering from a variety of disorders of the CNS including cognition, neuropathic pain, and Parkinson's disease. Both PAM programs represent an opportunity to circumvent the potential issues of limited efficacy and tolerance seen with some agonist programs targeting the same receptors in early clinical development.