Proximagen licenses candidate CNS drugs

UK-based drug discovery group Proximagen Neuroscience says that it has signed an exclusive in-licensing agreement for a suite of drug candidates with potential for the treatment of central nervous system disorders. The agents were discovered by Richard Silverman working at the Northwestern University in Chicago, USA, who was also responsible for the discovery of the neuropathic pain medication Lyrica (pregabalin), currently marketed by Pfizer.

The agreement stipulates that Proximagen is entitled to exclusive rights to develop and manufacture the compounds worldwide. In return, Northwestern will receive an upfront fee in addition to developmental milestone payments and royalties from future product sales. Further financial details were not provided.