This transaction will transform Actinogen into a clinical stage company with an asset that has the potential to become the long awaited treatment for Alzheimer’s dementia.
Corticrine is a mid-stage pharmaceutical R&D company focused on the development of novel treatments for disease modification and prevention in Alzheimer's dementia. It is a spin-out company from Edinburgh BioQuarter, the commercialisation arm of the College of Medicine and Veterinary Medicine of the University of Edinburgh.
Corticrine has licensed worldwide development and commercialisation rights to UE2323from the University of Edinburgh. UE2343 is in clinical development for the treatment of Alzheimer’s disease and has received considerable funding from the Wellcome Trust Seeding Drug Discovery programme According to the World Health Organization 18 million people affected globally with Alzheimer’s with 5.1 million in the US alone, which makes this a multi-billion dollar market.
The acquistion of Corticrine by Actinogen allows access to significant amounts of capital to advance clinical development of UE2343 and to benefit from the considerable research incentives for novel drugs in Australia. The deal is indicative of the innovative approaches adopted by Edinburgh BioQuarter to commercialize novel IP from the University of Edinburgh's College of Medicine and Veterinary Medicine.
Bill Blair, Head of Business Creation at Edinburgh BioQuarter
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