ChemDiv Inc. and Avineuro Pharmaceuticals Inc. have extended the term of their research and development collaboration including formulation, safety and early clinical development studies in areas of neurodegenerative and psychiatric disorders.
R&D services will be provided by Chemical Diversity Research Institute, ChemDiv’s research subsidiary based in Moscow.
The new agreement provides for research funding of clinical candidate compounds to POC. Avineuro is responsible for further clinical development and commercialization of drug candidates AVN101, AVN211, and additional compounds that may be nominated for development from the ongoing research and discovery under the agreement.
In September, ChemDiv entered into an out-licensing and collaboration agreement with Avineuro to develop multiple compounds for Alzheimer Disease and schizophrenia. Under the agreement, Avineuro obtained exclusive worldwide rights to clinical development candidates AVN101, AVN211, and lead compounds in various stages of pre-clinical development. ChemDiv will provide pre-clinical development services to nominate additional backup leads and candidates for Avineuro.