NsGene receives milestone payment from Biogen Idec  

2005.10.28
Danish Biotech company NsGene has received a milestone payment from Biogen Idec, which is developing NsGene's compound Neublastin for the treatment of neuropathic pain

Danish Biotech company NsGene has received a milestone payment from Biogen Idec, which is developing NsGene's compound Neublastin for the treatment of neuropathic pain, a condition which afflicts millions of people worldwide. Development work is progressing according to schedule, and Biogen Idec plans to initiate Phase I clinical studies in the near future.

Teit E. Johansen, director of NsGene is pleased with Biogen Idec's progress with Neublastin: "The milestone payment is not only an important income to NsGene, but also confirms to us the value of our efforts in gene discovery". The news was reported by Biotech Denmark and on the NsGene website.

NsGene was founded in December 1999 as a spin-off from the Danish biopharmaceutical company, NeuroSearch. NsGene develops novel cell and gene based products for the treatment of neurological diseases. The owners of NsGene include NeuroSearch, the Danish Fund for Industrial Growth and Karolinska Investment Fund. The biotech firm is based in Ballerup close to Copenhagen.

Link > NsGene 

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