Roche signs agreement for Memory acquisition

Roche has announced it has signed a definitive merger agreement to acquire Memory Pharmaceuticals.

The agreement will see Roche purchase Memory – which develops drug candidates for the treatment of central nervous system disorders – for an all-cash transaction of around $50 million (33 million pounds).

Memory and Roche are already partners in programmes for the development of nicotinic alpha-7 agonist drug candidates. Currently, R3487 – a treatment for Alzheimer’s disease and schizophrenia – is in phase II clinical trials, while R4996 is in phase I for Alzheimer’s.

William Burns, chief executive of division, Roche Pharmaceuticals, said the acquisition will allow the company to continue the development of such treatments.

"The innovative work carried out by the scientists at Memory will be fully integrated into Roche’s R&D portfolio with the aim of providing new hope for patients and caregivers affected by devastating diseases such as Alzheimer’s," he added.

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