Perth headquartered neurology research and development company, NeuroDiscovery Ltd's UK-based subsidiary NeuroSolutions Ltd has entered into an agreement with Gentronix Ltd to accelerate the pre-clinical development of a pain treatment.
Manchester-based Gentronix is a developer of screening assays to identify potential genetic toxicology early in the drug discovery process.
At 1150 WST, NeuroDiscovery's share price was at 16 cents.
Below is the announcement:
NeuroDiscovery Ltd (ASX: NDL) a neurology-focused research and development
company, is pleased to announce its 100% subsidiary, NeuroSolutions Ltd
(NeuroSolutions) has entered into a collaborative agreement with Gentronix Ltd
(Gentronix) to accelerate the pre-clinical development of NSL-105.
Gentronix (Manchester, UK), is a developer of screening assays to identify potential genetic toxicology early in the drug discovery process.
Pursuant to the agreement both companies will seek to assess the genetic toxicology of NSL-105 by using Greenscreen, Gentronix's commercially available yeast-based assay, which is a proven early screening tool in the drug development process.
In particular, the assay's high specificity is demonstrated by the extremely low incidence of false positives compared to other available tests.
NeuroDiscovery Chairman, Dr Mark Treherne said "We are delighted to collaborate with Gentronix and this agreement will provide us with a significant opportunity to accelerate the development of NSL-105 to build an in-depth pipeline of innovative products for the treatment of a variety of painful medical conditions. Recent forecasts predict a global market value for neuropathic pain treatments of over US$4 billion by 2007."
