Enkam Pharmaceuticals seeks partner to progress Alzheimer drug  

2004.01.22
The Danish biotech company has received investment cash to progress Phase I/II studies, but will need a strategic partner onboard in 6 months' time

CEO of Enkam Pharmaceuticals, Morten Albrechtsen, has confirmed that the company has received DKK 10 million (USD 1.7 million) from two venture funds, Migrata UK Ltd and Vangelis Ltd. The money will partly be used for Phase I/II studies of a drug candidate that has shown positive effects in animal models simulating Alzheimer's disease. With the recent milestone payments, Enkam Pharmaceuticals has enough capital to carry out the first trials in humans, however a strategic partner will be needed to progress the project further.

 

Albrechtsen acknowledges that Enkam lacks the organisation and experience necessary to handle the major exercise of late Phase II and Phase III studies for Alzheimer's disease. Hence there is a need to have a partner on board in 6 months time. Enkam basically has three options in this regard – either a major international player like Roche, a regional partner like Denmark's Lundbeck, or venture capital. The company is already busy pursuing the various possibilities in order to try and seal a deal.

 

Enkam Pharmaceuticals was established in 2000 as a spin-off from the Panum Institute and focuses its research on peptide binding on nerve receptors.

 

Link > Enkam Pharmaceuticals

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