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HAWTHORNE, N.Y.--(BUSINESS WIRE)--Acorda Therapeutics, Inc. (Nasdaq: ACOR) today announced that the Company’s preclinical pipeline has been selected by Windhover Information and an independent neuroscience expert as one of the top 10 most interesting neuroscience projects in development available for strategic partnering.
Acorda’s preclinical pipeline comprises three programs: a monoclonal antibody (rhIgM22), being studied in collaboration with Mayo Clinic for the regeneration of myelin on nerve fibers damaged by multiple sclerosis (MS); a family of proteins called neuregulins being studied in various therapeutic applications for both neurological and cardiac diseases, including MS, stroke and congestive heart failure; and chondroitinase, a bacterial enzyme being studied for repair of nerve connections in spinal cord and brain injuries. Acorda plans to file Investigational New Drug (IND) applications in late 2009 for rhIgM22 and GGF2, the Company’s lead neuregulin molecule, pending results of toxicology studies.
“All three programs in our preclinical pipeline represent novel approaches to treating serious neurological conditions and, for the neuregulins, serious cardiac conditions as well,” said Ron Cohen, M.D., Acorda Therapeutics’ President and CEO. “We are preparing to file INDs for rhIgM22 and GGF2, and are excited about potentially evaluating the profile of those compounds in a clinical setting if the INDs are approved.”
The selection of Acorda’s preclinical pipeline was made by Windhover Information in conjunction with Harry M. Tracy, PhD, President of NI Research. Windhover is a leading provider of business information to senior executives in the pharmaceutical, biotechnology, and medical device industries. NI Research (www.niresearch.com) is a leading independent analyst firm focusing exclusively on neurological and psychiatric drug development.
"Selected companies were evaluated using a strict set of judging criteria and represent what our committee considered the most attractive neuroscience opportunities the industry has to offer," said Roger Longman, Managing Director of Windhover Information. "Winners have met rigorous criteria including: unmet medical need, market potential, diversity of indications, strong science, multi-level partnering opportunities, potential for new opportunities beyond initial indications, and corporate stability."
As a selected company, Acorda has been invited to present at Windhover's Therapeutic Area Partnerships conference on November 3-5, 2008 in Philadelphia.
About Acorda Therapeutics
Acorda Therapeutics is a biotechnology company developing therapies for spinal cord injury, multiple sclerosis and related nervous system disorders. The Company's marketed products include Zanaflex Capsules® (tizanidine hydrochloride), a short-acting drug for the management of spasticity. Acorda’s lead clinical product, Fampridine-SR, recently completed a second Phase 3 clinical trial to evaluate its safety and efficacy in improving walking ability in people with MS. The Company's pipeline includes a number of products in development for the treatment, regeneration and repair of the spinal cord and brain.
About Windhover
Windhover Information Inc. (www.windhover.com), an Elsevier company, has led the field in providing analysis of the healthcare industry to decision-makers at all levels since the founding of its flagship publication, IN VIVO, The Business & Medicine Report, in 1983. Windhover provides its information and analysis in many formats, including print, electronic databases, international conferences and webinars.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, regarding management's expectations, beliefs, goals, plans or prospects should be considered forward-looking. These statements are subject to risks and uncertainties that could cause actual results to differ materially, including delays in obtaining or failure to obtain FDA approval of Fampridine-SR, the risk of unfavorable results from future studies of Fampridine-SR, Acorda Therapeutics' ability to successfully market and sell Fampridine-SR, if approved, and Zanaflex Capsules, competition, failure to protect its intellectual property or to defend against the intellectual property claims of others, the ability to obtain additional financing to support Acorda Therapeutics' operations, and unfavorable results from its preclinical programs. These and other risks are described in greater detail in Acorda Therapeutics' filings with the Securities and Exchange Commission. Acorda Therapeutics may not actually achieve the goals or plans described in its forward-looking statements, and investors should not place undue reliance on these statements. Acorda Therapeutics disclaims any intent or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.
Contacts
Acorda Therapeutics
Jeff Macdonald, 914-347-4300 ext. 232
jmacdonald@acorda.com
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