Tasly Pharmaceutical Co., Ltd. (Tianjin, China) and ProteoTech, Inc. (Kirkland, WA, USA) today announced an agreement to co-develop ProteoTech's novel small molecule therapeutic, Exebryl-1(R), for the treatment of mild-to-moderate Alzheimer's disease. Exebryl-1(R) has been shown to inhibit beta-amyloid protein aggregate formation in brain, as well as disaggregate amyloid plaques that are already present. The drug has also shown specificity against tau protein aggregates and may be the first therapeutic targeting beta-amyloid and tau protein associated with this disease. The collaboration will focus on moving the clinical development of this drug though the regulatory process in China and the US. Terms of the deal were not disclosed but will include an upfront payment, development costs and research funding to ProteoTech according to Manuel Menendez, Managing Partner of Nobel Pacific, who acted as an advisor to both companies. Tasly will gain rights for Exebryl-1(R) for China and ProteoTech will retain rights for the United States and the rest of the world.
"We are very happy with this opportunity to work with the team at ProteoTech and we feel that Exebryl-1(R) will become a very important medication in China against the growing epidemic of Alzheimer's disease" stated Dr. Henry Sun, Vice President of Tasly Group and President of Tasly Pharmaceuticals, Inc.
ProteoTech CEO, Steve Runnels said "The opportunity for this collaboration with a major international pharmaceutical company is very exciting for us. We are very fortunate to have Tasly as a partner and their experience in drug development, especially in China, provides an opportunity to accelerate Exebryl-1(R) through clinical development. We look forward to a successful Exebryl-1(R) collaboration with Tasly and the potential development of other promising technologies in our pipeline as well."