LONDON ¿ CeNeS Ltd, of Cambridge, which specializes in central nervous system disorders, has in-licensed sipatrigine for the treatment of stroke from Glaxo Wellcome plc, of London. CeNeS is paying a license fee and a milestone payment for the rights to the drug, which has completed Phase II studies, and will be responsible for all future development.

Under the terms of the deal, Glaxo Wellcome has the right to commercialize sipatrigine once Phase III is complete, and is purchasing a minority equity holding in CeNeS as part of the deal. If it does not take up the option, rights revert to CeNeS.

Sipatrigine is expected to be effective against strokes caused by both bleeding and blood clots. This means patients will not have to wait for a brain scan, cutting the time before treatment commences, hence reducing the level of brain damage.

At the same time. CeNeS, founded in 1997, announced it has completed its fourth round of funding, raising #3.4 million (US$5.4 million), including the Glaxo Wellcome investment.

With the Glaxo license, CeNeS now has six products in the clinic. It has two products in treating pain, licensed from British Technology Group plc, of London. One is a tripeptide in Phase I for the relief of neuropathic pain, and the second is morphine-6-gluconuride, in Phase II for the treatment of post-operative pain. The portfolio contains two dopamine D1 antagonists, in Phase I and Phase II, for the treatment of schizophrenia, licensed from Novo Nordisk (which also has an equity investment). One of these compounds also is in Phase I for the treatment of sleep disorders.

Experienced Founders Set Fast Pace

¿You could ask how we have done so much in such a short space of time,¿ said Martyn Collett, commercial director, making public the deal at the European Life Sciences Conference in Amsterdam last week. ¿This is because we have experienced founders who have set up a number of other companies.¿ Chairman Alan Goodman and CEO Daniel Roach list on their curricula vitae Alizyme plc, Peptide Therapeutics plc, Core Group plc, Oxford Biomedica plc, and Chiroscience Group plc.

CeNeS¿s internal research capability is centered on ion channel research, where it has discovery projects directed at Parkinson¿s disease and Alzheimer¿s disease. It also is building an ion channel research services line of business, which already counts SmithKline Beecham plc, Pharmacia & Upjohn, and other major pharmaceutical companies among its customers.

Collett noted that it is currently difficult to measure ion-channel movements. ¿The equipment is mechanical,¿ he said. ¿We want to develop a high-throughput ion channel screen. We can already do it three times faster than the norm, and are looking for partners to help us develop our capability.¿

In addition, the company owns CANTAB, a computer-based cognition system, used for the clinical assessment of diseases including Alzheimer¿s disease, Parkinson¿s disease, Huntington¿s disease and head injury, for which it is seeking development and marketing partners.

To date CeNeS has raised #15 million, of which it still has #6.4 million. ¿This will give us one to two years of reasonably comfortable life, depending on how we spend it,¿ Collett said. Last year, the company had sales of #500,000; this is projected to double in 1999. n