Schizophrenia Daily News Blog

More Memory Improvement Drugs in Research

Memory Pharmaceuticals Corp. (Nasdaq: MEMY) today announced that it has entered into an agreement with The Stanley Medical Research Institute (SMRI) to develop MEM 1003, the Company's neuronal L-type calcium channel modulator, as a treatment for bipolar disorder (and in the future schizophrenia). Under the terms of the agreement, Memory Pharmaceuticals is eligible to receive up to $3.2 million from SMRI to fund the clinical development of MEM 1003 and will use these funds to support a Phase 2a trial of MEM 1003 in acute mania in bipolar disorder, which is scheduled to commence in the first half of 2006. Memory Pharmaceuticals also is currently conducting a Phase 2a clinical trial of MEM 1003 in Alzheimer's disease.

These funds will be repayable to SMRI in the form of royalties, up to a specified maximum amount, on future sales of MEM 1003 for the treatment of bipolar disorder or schizophrenia.

"Abnormal calcium levels are thought to be involved in conditions such as Alzheimer's disease and bipolar disorder. MEM 1003 regulates calcium abnormalities and therefore has a solid rationale as a novel potential therapeutic for such disorders," said David A. Lowe, Ph.D., Chief Scientific Officer of Memory Pharmaceuticals. "We are delighted to have entered into this partnership with SMRI, which brings together Memory Pharmaceuticals' extensive preclinical and clinical experience with MEM 1003 and SMRI's knowledge and clinical expertise in bipolar disorder. This partnership will allow us to evaluate the potential of MEM 1003 in bipolar disorder concurrently with our ongoing Phase 2a clinical program in Alzheimer's disease."

"The Stanley Medical Research Institute collaborates with academic and corporate partners to advance the clinical development of promising treatments for bipolar disorder and schizophrenia," said Michael Knable, Executive Director of SMRI. "MEM 1003 represents a promising approach to the treatment of bipolar disorder, and we are pleased to be working with Memory Pharmaceuticals to take MEM 1003 into a proof-of-concept trial in bipolar disorder."

Source: Memory Pharmaceuticals, Inc. Marketing/Press release