More patients will be enrolled in Phase II trial in schizophrenia, and Roche will initiate an Alzheimer’s study with the same compound.

Memory Pharmaceuticals is expanding Phase II program for R3487/MEM 3454, which is being developed with Roche, in cognitive impairment associated with schizophrenia (CIAS). Roche will fund Memory in advance for all costs associated with the increase in enrollment and will accelerate a portion of the $17 million payment associated with the completion of the Phase II CIAS trial.

Additionally, Roche intends to initiate a Phase II trial with this compound in Alzheimer’s disease either by the end of this year or beginning of 2009.

Roche will provide $3.5 million of the $17 million milestone fee in connection with entering into this amendment. It will pay another $5 million upon the completion of enrollment for the CIAS trial of up to 212 patients. The remaining $8.5 million will be due 30 days following the availability of top line data from the Phase II CIAS trial, expected in the second quarter of 2009.

R3487/MEM 3454 is a partial agonist of the nicotinic alpha-7 receptor, a highly specialized receptor found in the central nervous system. In February, Roche and Memory Pharmaceuticals decided to add a biomarker study to this development program.


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