BioArctic Neuroscience and Swenora Biotech Enter Into Exclusive Licensing Agreement for a Novel Treatment Of Spinal Cord Injury
(Cision (English) Via Acquire Media NewsEdge) BioArctic Neuroscience and Swenora Biotech Enter Into Exclusive Licensing Agreement for a Novel Treatment Of Spinal Cord Injury
Treatment to help victims of spinal cord injury
Stockholm, Sweden, June 26th 2008. The Swedish biopharmaceutical company BioArctic Neuroscience AB and Swenora Biotech AB, today announced that they have signed an exclusive licence agreement for a novel treatment of spinal cord injury.
Under the terms of the agreement, BioArctic obtains the global rights to study, develop, manufacture and market the treatment of spinal cord injury (SCI).
?Through innovative Swedish research at Karolinska Institutet and the Karolinska University Hospital, Swenora has developed a device that will contribute to successful neurosurgical interventions, which will hopefully improve functional recovery and quality of life for patients with spinal cord injury?, said Mr. Hugo Thelin, Chairman of Swenora Biotech AB.
?We are very pleased with this licensing agreement with Swenora, which has introduced a totally new concept for the treatment of spinal cord injury that is a devastating condition leading to a seriously diminished quality of life and with personal sufferings and economic costs?, said Professor Lars Lannfelt, Chairman of BioArctic Neuroscience AB.
Peripheral nerve grafts in combination with a growth factor can promote spinal cord repair in rodent animal models of severe SCI. To promote nerve grafting procedures, a biodegradable device has been constructed where peripheral nerves are inserted together with a growth factor. The device is used during the neurosurgical procedure, when injured tissue is replaced, to connect viable nerves on each side of the injured segment. The procedure aims at rerouting regenerative pathways with multiple neuronal autografts and promoting the outgrowth of neurites.
For more information, please contact: BioArctic Neuroscience AB P?r Gellerfors, CEO Telephone: +46-8-6956931 e-mail: [email protected] Swenora Biotech AB Dr. Hugo Thelin, Telephone: +46(0)706908187
Notes to editors
About BioArctic Neuroscience BioArctic Neuroscience AB is a biopharmaceutical company carrying out research and development for new treatments of neurodegenerative disorders. The company, which was founded in 2003, has a proprietary technology for therapeutic monoclonal antibodies, for the treatment of Alzheimer?s disease, Parkinson?s disease and Alzheimer related disorders. In December 2007, BioArctic entered into a license agreement with Eisai with its first monoclonal antibody targeting the toxic elements in Alzheimer?s disease. The company?s business model is to form strategic research alliances, joint ventures or license agreements with pharmaceutical industries and bring its drug candidates to the world market. The company, which is headquartered in Stockholm, has received early venture capital from Karolinska Development AB and Uppsala Holding AB. www.bioarctic.se
About Swenora Swenora Biotech AB is a Swedish biotech company built on new research and novel technology within the field of advanced neurosurgery. The mission of the company is to develop methods to recreate injured nerves in the peripheral and central nervous system.
About Spinal Cord Injury Repair and regeneration of the chronically injured spinal cord remains a huge challenge. After traumatic spinal cord injury (SCI) the surrounding areas below the site of injury are affected by loss of neurological function and leads to a poor prognosis for functional recovery. The annual incidence of SCI is estimated to 22 per million of population. There are 2.5 million survivors of SCI and they suffer from serious handicaps that impair their quality of life, e.g., loss of motor function, sensory loss, chronic pain, infections and pressure sores.
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