NeuroVive Pharmaceutical AB (publ) (STO:NVP) and A1M Pharma AB (publ) have announced that the two companies are initiating a research collaboration in mitochondrial medicine. The partnership is governed by a collaboration agreement signed on 21 March 2014.
· Initially, the purpose of the collaboration is to utilize the companies' complementary scientific platforms within the framework of ongoing research projects. The companies will evaluate results achieved to date, then explore the potential for a closer collaboration focusing on bringing products to market in a time-efficient manner.
· The costs related to the research collaboration will be covered by each company separately and within budgeted development projects.
· Both companies will retain exclusive ownership rights to existing registered intellectual property. However, any inventions arising from the collaboration will be jointly owned by NeuroVive and A1M Pharma.
"I'm delighted to be able to announce this collaboration with A1M Pharma, which will give both parties access to a broader scientific platform in mitochondrial medicine. The companies' adjacent research areas and strong R&D backgrounds, combined with their geographical proximity, will secure a smooth integration of existing research projects," commented NeuroVive's CEO Mikael Brönnegård.
"The collaboration will improve the potential for both parties to conduct leading research in mitochondrial medicine. I'm convinced that our experience and scientific backgrounds will generate new approaches and increase the potential to create leading products with substantial market potential. However, I would like to emphasize that we're retaining our focus on pre-eclampsia and renal failure," responded A1M Pharma's CEO Tomas Eriksson.
NeuroVive Pharmaceutical AB