Elan and PharmatrophiX Announce Collaborative Pact

Elan and PharmatrophiX, a biotechnology company focused on the development of small molecule ligands for growth factor receptors relevant to neurological disorders, have announced a global collaboration to research, develop and commercialize the neurologic indications of PharmatrophiX’s portfolio of compounds targeting the p75 neurotrophin receptor. These pre-clinical compounds include lead investigational compound LM11A-31.

The PharmatrophiX portfolio of small molecule compounds, termed p75 ligands, mimic the activity of the neurotrophins, interacting and potentially protecting neurons that are susceptible to loss in Alzheimer’s disease. Targeting the p75 neurotrophic receptor (p75 ^NTR) could protect neurons from AD by a number of different mechanisms.

PharmatrophiX was founded in 2005 by Frank Longo, M.D., Ph.D., during his tenure as Chairman of Neurology at UNC-Chapel Hill with the goal of developing small molecule technology created at UNC-Chapel Hill and UC San Francisco.

“PharmatrophiX is very excited to have Elan as its collaborator to develop and commercialize the neurologic indications for its compounds," said Dr. Longo. "Elan shares our vision and commitment to developing therapeutics that will change the course of AD and we are confident this collaboration will allow PharmatrophiX to fully achieve the potential of the p75 ligand portfolio and potentially make a difference in the lives of millions of AD patients and their loved ones.”

Dale Schenk, PhD, Elan Executive Vice President and Chief Scientific Officer, notes that Elan is extremely pleased to formalize its relationship with PharmatopiX, culminating a collaboration of more than two years.

“The p75 ligand compounds diversify the Elan portfolio,” Dr. Schenk said, “by adding an orally-available therapeutic platform that attacks AD from a different, and potentially complementary, approach to current beta amyloid therapeutics which are the focus of the Elan pipeline. This collaboration continues to reinforce our strategy to explore and pursue all approaches to bring forward disease-modifying therapeutics for AD.”

In early 2009, Elan announced a review of the company's strategic alternatives. The collaboration with PharmatrophiX is independent of that review.