Prothena Corporation PLC (NASDAQ:PRTA) has vowed to put more effort in the development of new therapies for a broad range of neurodegenerative diseases. In an effort to accomplish its objective, the multi-year research and development company will be collaborating with Celgene Corporation (NASDAQ:CELG), which has also been working to expand its pipeline beyond its core oncology franchise.
The collaboration will put more emphasizes on the diseases, which do not currently have modifying therapies such as chronic traumatic encephalopathy (CTE). Others include progressive supranuclear palsy (PSP) and Tau, a protein implicated in diseases including Alzheimer’s disease among others. The US biotech will be handing over $150m upfront payment to Prothena alongside potential license payments and regulatory and commercial milestones.
Prothena has a legacy of innovation in neuroscience
Prothena is already in good records in the biotech industry, which is growing very rapidly. Besides, it has a team, which clearly understands the biological approaches targeting protein misfolding disorders. President and Chief Executive Officer of Prothena, Gene Kinney outlines that the company has an extensive track record of successfully bringing forward innovation in the industry.
Kinney further states, “As we build our pipeline of novel therapies across the neuroscience and orphan disease categories, this collaboration provides Prothena the opportunity to work with a premier scientific partner.”
The duo will collaborate on particular programs, which have the potential of providing foundational assets. The programs will in return help in building new therapeutic approaches to the currently untreatable neurological disorders.
Celgene has had other collaborations
It is not the first time that Celgene is getting into a collaboration with biotech companies, which pay attention to central nervous system diseases. The company has previously signed a deal with Evotec worth $295 million. The deal is all about therapies for neurodegenerative disorders using the German biotech’s stem cell screening platform.
Earlier in the month, the biotech giant paid Vividion Therapeutics $101 million upfront for a collaboration intended to co-develop small molecules against targets for neurodegenerative. Meanwhile, Celgene has permitted Natco Pharma to begin selling its version of the drug in the U.S; the blockbuster multi-indication treatment Revlimid.