Danish biopharmaceutical company NeuroSearch is set to begin Phase III clinical studies of drug candidate ACR16 for the treatment of Huntington’s disease. The work will be conducted on both sides of the Atlantic and is budgeted to cost around EUR 25m, which NeuroSearch plans to finance itself, writes financial daily newspaper Børsen.
"We see the opportunity to keep the whole value chain ourselves," Flemming Pedersen, CEO of NeuroSearch, told Børsen. "The market is estimated to be worth around USD 800m, which makes it interesting, especially if you are the sole player.”
Pedersen says that NeuroSearch's current strategy is to get ACR16 onto the market, create a solid cashflow, and then hunt for suitable specialist products that can be acquired into the company's portfolio. A parallel dimension of the strategy is to continue to develop major projects with leading pharmaceutical concerns and to take a greater share of the value chain, excluding coverage of general practitioners.
Huntington’s disease is a rare, inherited neurological disorder first described by the New York physician George Huntington in 1872. It is caused by a faulty gene which leads to progressive degeneration of nerve cells in the brain, resulting in a wide and distressing range of symptoms. The prevalence of Huntington’s disease is 5 to 8 per 100,000, varying geographically.
NeuroSearch develops novel drugs based on a broad and well-established drug discovery platform focusing on ion channels and CNS disorders. A substantial part of the company’s activities are partner financed through a broad alliance with GlaxoSmithKline (GSK) and collaborations with Abbott and Astellas.
NeuroSearch is listed on the OMX Nordic Exchange Copenhagen.