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Drug firm Taisho has reached an agreement with Pfizer over a potential new schizophrenia treatment currently in pre-clinical stage.
The letter of intent relates to a proposed licence agreement for TS-032, which was discovered by Taisho, and covers rights for development and commercialisation.
Under the terms of the deal, Taisho will grant exclusive rights for TS-032 outside Japan to Pfizer.
If the agreement is signed, Taisho will receive an initial payment of £10.6m from Pfizer.
The Japanese firm will also receive additional payments tied to the progress of the drug’s development, as well as royalties and payments linked to sales, if it eventually reaches the market.
TS-032 is a novel mGluR (metabotropic glutamate receptor) agonist that may offer a new treatment option for central nervous system (CNS) disorders.
Although the characteristics of mGluR are still only partially understood, it is believed to play a role in the transmission of glutamate and other substances in the brain.
Abnormalities in the neurotransmission through mGluR may be one cause of symptoms related to schizophrenia as well as other CNS disorders. Data shows that mGluR agonists, such as TS-032, could be used to treat schizophrenia.
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