Guilford Pharmaceuticals study brings $1 million

Maryland Watch

September 29, 1998

Guilford Pharmaceuticals Inc. said yesterday that Amgen Inc. will pay the Baltimore company $1 million as a result of the launch of an animal study to determine if an experimental drug compound for Parkinson's disease might have toxic side effects.

The companies declined to disclose when they hope to move the potentially revolutionary treatment into human clinical studies.

The toxicology study, which will last one month, involves a compound known as NIL-A. It is based on molecules known as neuroimmunophilin ligands, which have shown promise in slowing disease progression.

In August 1997, Guilford entered into a collaboration with Amgen, based in Thousand Oaks, Calif., to develop and commercialize medical treatments based on neuroimmunophilin ligand compounds developed by Guilford.

The companies believe the treatments have promise for treating a range of neuro-degenerative disorders.

Under the agreement -- one of the largest biotechnology licensing deals in history -- Guilford gets payments from Amgen when research and development milestones are reached.

Pub Date: 9/29/98

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