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Proximagen Neuroscience

  • BY: Andrew Hore |
  • POSTED: 29/08/2007 |

Proximagen, which focuses on the discovery of treatments for neurodegenerative diseases, says pre-clinical studies of its Parkinson’s disease treatment are encouraging. 

Proximagen has tested a number of compounds for its PRX1 treatment for Parkinson’s disease. It appears to have found at least one that is more effective than L-DOPA, which is the best treatment currently available. It is more consistent and involuntary movements are no worse. 

The PRX4 neuroprotection treatment has received funding from the Michael J Fox Foundation and Elan Corporation has an option for worldwide commercial licensing rights. It involves a neuroprotective gene that delivers genetic material directly into brain cells.

There is £10.4m of cash in the bank so the company has enough funding for its immediate needs. The cash outflow was £1.2m in the first six months of 2007.

Proximagen announced that it had received approaches from potential bidders at the end of July. There is no further news about this.

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