AstraZeneca, Pfizer neurology news

The Quebec government partnered with the pharmas to form the not-for-profit Neomed Institute, a life sciences research center housed at AstraZeneca's recently closed neurology R&D site in Montreal. The Quebec government is providing the institute with a C$8 million ($8.1 million) grant and C$20 million ($20.1 million) through a five-year, non-interest-bearing loan, while Pfizer is contributing C$3.5 million ($3.5 million). AstraZeneca is contributing C$5 million ($5 million), as well as land and the facility, laboratory equipment and IP for three pain molecules. AstraZeneca said one of donated compounds is a preclinical purinergic receptor P2X ligand-gated ion channel 3 (P2X3) antagonist in development for painful bladder syndrome and interstitial cystitis. The other undisclosed compounds are in development for cancer and osteoarthritis pain. The institute will provide funding for academic labs and biotechs to develop therapeutics to human proof of concept (POC), at which point they will be out-licensed. Pfizer and AstraZeneca will have right of first negotiation for any programs. Pfizer said the R&D at the institute will remain public until one partner bids on a molecule, at which point the IP will be transferred to the partner's portfolio. The institute said it is looking to bring in additional partners who would also have right of first negotiation. The institute is open to research for any therapeutic area, with an initial focus on small molecules. ...