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Text:
CoCensys announced October 31, 1995, two strategic collaborations with
Warner-Lambert Co., and its Parke-Davis division, to develop and market therapeutic drugs for the
treatment of central nervous system (CNS) disorders. Under the first agreement, the companies will share
technology and resources to develop a new class of neurological and psychiatric drugs, termed subtype-
selective NMDA receptor antagonists. In the second collaboration, CoCensys will co-promote Parke-
Davis' CNS drug Cognex(R) (tacrine hydrochloride) to U.S. neurologists for the treatment of
Alzheimer's disease.
Under the first agreement, CoCensys and Parke-Davis will equally share co-
promotion rights for all compounds arising out of this agreement in both the United States and Japan
and will split all profits equally. In addition, Parke-Davis will develop, register and market any drugs that
are derived from this collaboration in the rest of the world and pay a royalty to CoCensys. CoCensys
and Parke-Davis will share drug development costs in a proportion appropriate to their respective
marketing rights. Finally, Parke-Davis will make an equity investment in CoCensys, as well as pay
certain milestone payments.
The companies will co-discover and develop therapeutic drugs utilizing CoCensys' research on
NMDA receptor subtypes, the Parke- Davis compound library and their complementary research strengths
in the glutamate receptor area. An initial target of the collaboration will be a drug to treat stroke and
head trauma. The indications for subtype-specific NMDA receptor antagonists may be much broader,
however, and the research collaboration will explore several other possible applications.
Under
the second agreement, Parke-Davis grants CoCensys exclusive rights to co-promote Cognex to
neurologists in the United States. Parke-Davis retains the rights to market Cognex to all other physician
groups in the United States as well as in all markets throughout the rest of the world.
Copyright (c) 1995 J.R. Prous. All rights reserved.
Drug News & Perspectives
© 1997 J.R. Prous S.A. All rights reserved.
Dialog® File Number 455 Accession Number 327636