27 May 2014 | News | By BioSpectrum Bureau
Neurotez,GCAT to treat Alzheimer's disease in China
Singapore: US based Neurotez intends to develop Leptin derivatives for the treatment of Alzheimer's disease (AD) and other cognitive disorders by an exclusive license agreement with GCA Therapeutics (GCAT,) which grants GCAT to develop and commercialize leptin products in China excluding HongKong and Taiwan.
As per the consensus, Neurotez would be eligible to receive gross sales milestones up to $102.5 million and royalties on gross sales and GCAT will be responsible for developmental and financial aspects of the Leptin Products.
Neurotez president and chief executive officer, Mr Nikolaos Tezapsidis said GCAT has a demonstrated track record of successfully developing therapeutics for the large China/Asian markets.
He further quoted that," We are expecting a series of agreements and we anticipate it to reach to the global market of patients with Alzheimer's disease."
Dr Mark Tang, chairman of GCAT, said, "With Alzheimers disease becoming more prevalent in China there is a huge potential benefit of these products. We look forward to a productive and profitable collaboration between Neurotez and GCAT."