Schizophrenia Daily News Blog

Start-up company targets schizophrenia

Its great to see new companies targeting therapies for schizophrenia.

Today's Washington post covered one such company:

Name: Vanda Pharmaceuticals

Locations Rockville, Maryland and Singapore

Mihael H. Polymeropoulos, chief executive of Vanda Pharmaceuticals, which has two drugs in late-stage development.

Funding: The company has raised $47 million from BioOne Capital, Care Capital Inc., MedImmune Ventures Inc., Prospect Venture Partners, Rho Ventures and Domain Associates LLC.

Big idea: Vanda is developing two drugs, for psychiatric and sleep disorders. The first is an antipsychotic that would be used to treat schizophrenia and bipolar disorder. The drug binds to serotonin and dopamine receptors that release hormones thought to cause schizophrenia, said William D. "Chip" Clark, chief business officer.

...The antipsychotic drug, Iloperidone, is in advanced "phase three" trials, Clark said, and the melatonin drug, VEC-162, is ready for such trials. Clark said both drugs should be ready for market in the next few years. The company is also evaluating and acquiring new compounds.

Where the idea was hatched: Vanda was formed by two venture capital companies, Care Capital of Princeton, N.J., and BioOne Capital of Singapore. It then acquired its two drugs from other pharmaceutical companies and has continued their development.

Founded: 2003

Employees: 31

Web site: http://www.vandapharmaceuticals.com