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American Biogen buys into Canadian Amorfix LifeAugust 04, 2006
Toronto-based Amorfix Life is joining the American-based Biogen of Cambridge, Massacheusettes and includes options to license the worldwide rights to Amorfix's technology. Amorfix develops and commercializes therapeutic treatments for Lou Gehrig's Disease (Amyotrophic Lateral Sclerosis).
Biogen Idec Incorporated is a biotechnology company specializing in drugs for autoimmune disorders and cancer. Biogen was setup in 2003 by a merger of Massachusetts-based Biogen and San Diego-based Idec Pharmaceuticals.
If the option is exercised, Biogen Idec would be responsible for completing preclinical and clinical development, regulatory approvals, manufacturing and commercialization of any new drugs.
"To ensure a rapid translation of our technology to clinical trials, we chose to partner with a world-leading biotechnology company that will bring significant resources and expertise in the preclinical and clinical validation of Amorfix's approach to treatments for neurodegenerative diseases," said Neil Cashman, chief scientific officer of Amorfix.
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