Investment in US Alzheimer's technology
June 2009
Blocking a brain-derived enzyme induces investment in UNeMed Corporation and the University of Nebraska by Australian biotech firm.
A recently discovered brain-derived enzyme which has significant commercial potential in the Alzheimer’s and Parkinson disease market has led to the largest investment of venture capital funds to date obtained by UNeMed Corporation and the University of Nebraska Medical Center.
NeuMedix Health Group (www.neumedix.com), a biotechnology venture capital firm based in Sydney, Australia, has invested in the work of Tsuneya Ikezu, MD, Ph.D., a professor in the Department of Pharmacology and Experimental Neuroscience at UNMC.
The money will be used to further Dr. Ikezu’s research on finding a compound that will block the enzyme's function with a high degree of specificity and subsequently prevent the damaging effects of the enzyme's overactivity thus preventing the onset of dementia.
“The University of Nebraska Medical Center has an international reputation in producing quality research and Dr. Ikezu has done an impressive amount of research in this particular area. We hope that by our investments, we can assist hundreds of thousands of individuals and their families in achieving a better quality of life,” said Michael Issakidis, NeuMedix director.
UNeMed first filed a patent application on this enzyme when Dr. Ikezu discovered it in 2002 and just received word that the USPTO expects the patent to issue later this summer. “The reward of UNeMed and Dr. Ikezu’s diligence over the past 6 years is paying large dividends” said Michael Dixon, PhD, Vice President of UNeMed. “Everything has come together nicely and we are pleased to be able to attract additional research money to this valuable research as well as establish a partner to help translate the results of this research into the clinic.
Dr. Ikezu's lab developed a transgenic mouse model to show that the gene known as tau-tubulin kinase1 (TTBK1) induces memory impairment. The study in the mouse model was published in the December issue of the Journal of Neuroscience. The finding revealed that TTBK1 is a potential therapeutic target for neurodegenerative disorders, such as Alzheimer's and Parkinson's diseases.
“This enzyme can be a therapeutic target of neurodegenerative disorders and we are all excited about the publication and funding for initiating the drug screening program to regulate this enzyme activity in brain,” Dr. Ikezu said.
Nearly a year ago, UNeMed was approached by Neumedix in response to ongoing international marketing efforts. Due to the complex nature of the project, negotiations and planning took nearly a year to complete with work scheduled to begin April 1st. "I think that the fact that Neumedix was willing to make such a large investment after completing a lengthy due diligence process speaks volumes about the merit of the technology" said Jack Hartwigsen, PhD, MBA Senior Licensing Consultant for UNeMed who managed the project. The research will take place over the next four years at which time, it is anticipated that it will be ready for clinical trials.
“We are optimistic that a lead compound can be identified through the drug discovery endeavor. I really appreciate all the lab members contributing this project, support from Department of Pharmacology and Experimental Neuroscience, and UNeMed for identifying the sponsorship,” Dr. Ikezu said.
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