GSK starts new Phase II clinical trial of NeuroSearch depression drug  

2007.04.25
NeuroSearch's share price jumps as GlaxoSmithKline (GSK) starts the second of two Phase II clinical studies of NeuroSearch's drug candidate NS2359 in patients with major depressive disorder
The share price of Danish biopharmaceutical company NeuroSearch shot up over 5% yesterday on news that pharma giant GlaxoSmithKline (GSK) has started the second of two Phase II clinical studies of NeuroSearch's drug candidate NS2359 in patients with major depressive disorder. The first study was initiated at the end of last year, and both are being conducted in multiple centres worldwide.
 
Under the development and licensing agreement between the two parties, GSK will finance all future development costs of NS2359, while NeuroSearch is entitled to receive sizeable milestone payments and handsome royalties on sales.
 
According to a press release from NeuroSearch, NS2359 is expected to offer something new and different compared to existing depression treatments, because of the drug's so-called "triple-mode-of-action". This refers to the drug's reported ability to enhance the function of three different neurotransmitters in the brain, and as a result produce improvements across the whole range of symptoms in depression. It is also suggested that the new drug may have a faster onset of action than depression drugs already on the market.
 
NeuroSearch's core business covers the development of novel drugs, based on a drug discovery platform focusing on ion channels and diseases of the central nervous system. In addition to its alliance with GSK, NeuroSearch also has collaborations with Abbott and Astellas. The company currently has nine drug programmes in clinical development, covering a range of disorders including Huntington’s disease, epilepsy and schizophrenia.
 
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