Neurologix licenses gene from Diamyd Medical to develop treatment for Parkinson's disease

By Lisa Kerner

Charlotte, N.C., Aug. 7 - Neurologix, Inc. said it has entered into a licensing agreement with a subsidiary of Diamyd Medical for the use of the glutamic acid decarboxylase 65 gene to develop a treatment for Parkinson's disease.

Under the agreement, Neurologix will pay Diamyd an initial license fee of $500,000, milestone payments and royalties, as well as annual maintenance fees beginning in January 2008.

"The company may now go forward with the same product that demonstrated positive results in the phase 1 Parkinson's trial," Neurologix chief executive officer John E. Mordock said in a company news release.

"Now, we are closer to our goal of creating a safe and effective, single-application treatment for Parkinson's disease, which affects millions of people around the world."

Neurologix's 12-patient, dose-escalating phase 1 trial was the first to use the non-pathogenic adeno-associated virus for the treatment of an adult neurodegenerative disease, the company said.

Diamyd is a biotechnology company based in Stockholm, Sweden, and Pittsburgh, Pa

Fort Lee, N.J.-based Neurologix is a biotech company focused on gene therapies for the brain and central nervous system.

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