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December 11, 2013

Proteostasis enter deal with Biogen Idec for new therapies for neurodegenerative diseases

US-based drug maker Proteostasis Therapeutics has entered into collaboration with Biogen Idec to research, develop and commercialise new therapies based on the inhibition of Usp14, a deubiquitinating enzyme, to treat certain neurodegenerative disorders.

By admin-demo

US-based drug maker Proteostasis Therapeutics has entered into collaboration with Biogen Idec to research, develop and commercialise new therapies based on the inhibition of Usp14, a deubiquitinating enzyme, to treat certain neurodegenerative disorders.

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The deal combines Proteostasis Therapeutics’ proprietary scientific platform and preclinical work on protein degradation with Biogen Idec’s neurodegenerative disease research and clinical development capabilities.

Proteostasis Therapeutics senior vice-president and head of research Markus Haeberlein said: "We look forward to advancing our disease-modifying approach to develop therapeutic candidates that can address several protein aggregation disorders, including Parkinson’s and Alzheimer’s disease."

"The preclinical research has demonstrated that the inhibition of Usp14 modulates proteasome activity and increases the degradation rate of aggregation-prone proteins."

The preclinical research has demonstrated that the inhibition of Usp14 modulates proteasome activity and increases the degradation rate of aggregation-prone proteins, including a-synuclein in Parkinson’s disease and tau in Alzheimer’s disease.

As part of the deal, the new Usp14 inhibitors will be developed as a disease-modifying approach for a range of disorders involving toxic protein aggregation.

Biogen Idec chief scientific officer Spyros Artavanis-Tsakonas said: "Proteostasis is a leader in this field, and we are pleased to be working with them to develop meaningful new treatments for patients with neurodegenerative and other diseases."

Under the deal, Proteostasis will receive an initial upfront payment from Biogen, along with an equity investment.

Proteostasis is also eligible for research funding support and future development and commercial milestones that could result in total payments of about $200m, as well as tiered royalties.

The deal will see both the companies jointly carry out preclinical research to identify lead compounds for clinical development. At specified points in development, Proteostasis will have the option to secure potential milestones or opt in for global co-development and US co-commercialisation rights.

The Usp14 technology was originally developed by Harvard professors Daniel Finley and Randall King, who are both on Proteostasis’ scientific advisory board.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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