X-Chem, Inc., a privately held biotechnology company focusing on applying its drug discovery capabilities to the generation of novel small molecule therapeutics, announced it has entered into an partnership with PsyBrain, Inc. to discover new drugs for treating psychiatric illnesses.
According to National Institute for Mental Health approximately one in four adult Americans suffers from a diagnosable mental disorder in a given year, yet there are very few medicines in development. PsyBrain is a start-up company, arising out of a 2012 collaboration between X-Chem and a group of academic, Central Nervous System (CNS), drug development leaders. PsyBrain's founders include Jerrold Rosenbaum, M.D., Chief of Psychiatry, Massachusetts General Hospital (MGH) and Stanley Cobb Professor of Psychiatry and Maurizio Fava, Executive Vice Chair, MGH Psychiatry and Slater Family Professor of Psychiatry, both from Harvard Medical School.
According to a release, under the terms of the agreement, X-Chem will conduct drug discovery efforts to identify lead compounds for therapeutic targets provided by PsyBrain. X-Chem will receive research and development funding for each project. Each X-Chem program licensed by PsyBrain is eligible for pre-clinical, clinical and sales milestones. Financial details were not disclosed.
"This agreement between PsyBrain and X-Chem establishes a broad collaboration that we believe will generate significant new treatments for brain diseases," said Rick Wagner, Ph.D., Chief Executive Officer of X-Chem. "New therapies for psychiatric illnesses have been difficult to discover. By combining PysBrain's expertise and insights into novel targets with X-Chem's powerful drug discovery platform, we are charting a new course to tackle these life-altering afflictions."
X-Chem, Inc. is a biotechnology company based in Waltham, Massachusetts.
PsyBrain is a new drug discovery and development biotechnology company that includes co-founders Jerrold Rosenbaum, M.D., Chief of Psychiatry, MGH and Stanley Cobb Professor of Psychiatry together with Maurizio Fava, Executive Vice Chair, MGH Psychiatry and Slater Family Professor of Psychiatry, both from Harvard Medical School and Roy Perlis, M.D., M.Sc., Director, Center for Experimental Drugs and Diagnostics, MGH, and Associate Professor, Harvard Medical School.
PPD is a global contract research organization providing drug discovery, development, lifecycle management and laboratory services.
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