Elan announces Alzheimer’s collaboration

Elan, the Irish pharmaceutical company, has published the details of a new collaboration with Transition Therapeutics to develop a small molecule drug designed to treat Alzheimer’s disease.

The drug, AZD-103, is in phase I clinical development and it works by inhibiting the formation of beta amyloid fibrils that are strongly associated with Alzheimer’s disease.

Under the terms of the partnership, Elan will make two payments of $7.5 million (four million pounds) over two years.

In addition, milestone payments dependent on regulatory approval could bring the total fees paid to Transition up to $185 million.

Kelly Martin, Elan’s chief executive officer and president, remarked: “The opportunity to advance this program to provide much needed therapeutic choice in the treatment of Alzheimer’s will be a strategic priority and focus for all of us here at Elan.”

He added that the addition of AZD-103 to its scientific portfolio is “significant”.

Dr Tony Cruz, Transition’s chief executive officer, concluded by saying that the drug has to potential to help make a difference to the lives of millions of Alzheimer’s disease patients and their families.

Elan’s current product portfolio comprises four products – Tysabri, the multiple sclerosis treatment, Prialt for chronic pain and Azactam and Maxipime, both antibiotics.