Mitsubishi Tanabe Pharma (MTPC) licensed EnVivo Pharmaceuticals’ cognition-enhancing therapy for development and commercialization in Japan and other Asian countries. The candidate, EVP-6124, is in Phase IIa trials in the U.S.
MTPC will pay an initial license fee as well as clinical, regulatory, and commercial milestones. EnVivo will also receive royalties on sales of EVP-6124 in the MTPC territory, which includes Japan, Korea, Taiwan, Indonesia, and other countries in Asia.
MTPC plans on initiating Phase I trials during 2010. EVP-6124 is an alpha-7 nicotinic acetylcholine receptor agonist currently being tested by EnVivo in Alzheimer's and schizophrenia patients.
EnVivo obtained exclusive rights to the alpha-7 agonist program and a related patent estate from Bayer Healthcare in November 2004.