Merger Strengthens Development of Alzheimer's Disease Drugs

The neuronal nicotinic alpha-7 receptor, found primarily in the brain, has a number of properties that suggest it may play a unique role in neuronal function, including synaptic plasticity and cytoprotection. In addition, stimulation of the alpha-7 receptor has been found to increase key neurotransmitters in areas of the brain involved in cognition. The candidate drugs are partial alpha-7 receptor agonists. An agonist is a substance that binds to a specific receptor and triggers a response in the cell. It mimics the action of an endogenous ligand (such as hormone or neurotransmitter) that binds to the same receptor.

Future stewarding of the two drugs - R3487/MEM 3454 is in phase II clinical trials for Alzheimer's disease and schizophrenia, while R4996/MEM 63908 is in phase I for Alzheimer's disease - will now be in the hands of the pharmaceutical division of Roche (Basel, Switzerland). Roche has acquired all the outstanding shares of Memory Pharmaceuticals in an all-cash transaction for an aggregate price of approximately US$50 million.

"Acquiring Memory Pharmaceuticals will enable Roche to secure the future development of its promising nicotinic alpha-7 agonists,” said William Burns, CEO of the pharmaceuticals division at Roche. "The innovative work carried out by the scientists at Memory Pharmaceuticals will be fully integrated into Roche's R&D portfolio with the aim of providing new hope for patients and caregivers affected by devastating diseases such as Alzheimer's.”

Jonathan Fleming, chairman of the board of directors of Memory Pharmaceuticals said, "Since founding Memory Pharmaceuticals in 1998, we have focused on developing medicines that could make a real difference to the lives of CNS patients. I am proud of the progress our dedicated team has made, and I am confident that Roche's capabilities and experience in the CNS field will enable our research to realize its full potential.”

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