STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
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.
About A1M Pharma
A1M Pharma AB (publ) was founded by researchers at the University of Lund, Sweden. The company was incorporated in 2008 with its main focus on the development and commercialization of diagnostics and treatment of pre-eclampsia. Pharmaceuticals development is based on A1M, a protein that protects the body from toxic substances formed in oxidative stress, and repairs damaged tissue. Diagnostics are based on the detection of raised levels of the biomarker fetal hemoglobin in the mother’s blood. The researchers have developed a new method for discovering pregnancies at risk of developing pre-eclampsia at an early stage. In 2013, the company decided to complement its research to include pharmaceuticals development focusing on renal failure, as recently completed studies indicate that A1M protects renal tissue. A1M Pharma’s shares are traded on the AktieTorget marketplace under the ticker symbol A1M.
About NeuroVive Pharmaceutical
NeuroVive Pharmaceutical AB (publ), a leading mitochondrial medicine company, is developing a portfolio of products to treat acute cardiovascular and neurological conditions through mitochondrial protection. These medical conditions are characterized by a pressing medical need and have no approved pharmaceutical treatment options at present. NeuroVive’s products CicloMulsion® (heart attack) and NeuroSTAT® (traumatic brain injury) are currently being evaluated in phase III and phase II studies, respectively. NeuroVive’s research programs also include products for the treatment of anti-viral indications (Hepatitis B/C), brain cell injury in stroke patients, and drug candidates for cellular protection and treating mitochondria-related energy regulation diseases. NeuroVive’s shares are listed on NASDAQ OMX, Stockholm, Sweden.
NeuroVive Pharmaceutical AB
Medicon Village, SE-223 81 Lund, Sweden
Tel: +46 (0)46 275 62 20 (switchboard)
A1M Pharma AB Medicon Village, SE-223 81 Lund, Sweden
Tel: +46 (0)46 286 50 30 (switchboard)
NeuroVive Pharmaceutical AB (publ) is required to publish the information in this news release under The Swedish Securities Market Act. The information was submitted for publication on 25 March 2014, at 8:30 a.m. CET.
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