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GEN News Highlights : Nov 1, 2006

Roche Issues Two Milestone Payments

Memory and Amira are on the receiving end.

Memory Pharmaceuticals received a $2-million milestone from Roche related to MEM 3454. This is Memory’s lead compound for the treatment of neurological and psychiatric disorders. It is a result of the companies' alliance focused on the discovery and clinical development of nicotinic alpha-7 receptor agonists. Roche also elected to maintain its option to obtain an exclusive license for MEM 3454.

Separately, Amira Pharmaceuticals received its first milestone payment from Roche nine months after the start of their research collaboration. The payment is the result of a collaboration in the field of inflammatory disease. Amira has identified a series of drug candidates against one mutually agreed target.