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COPYRIGHT 2007 Asia Pulse Pty Ltd
(Full text of a statement. Contact details follow below.)
SYDNEY, July 31 /Medianet International-AsiaNet/ --
Two leading life science VCs to invest US$3m in Neuren Key Points:
-- Acquisition of a compound - Motiva - with successful safety and Phase II efficacy data in human clinical trials
-- US Investigational New Drug ("IND") application currently active Strengthens Neuren's position as key player in the CNS field
-- Two leading life science VCs to invest US$3 million in Neuren
-- Neuren will have one Phase III and three Phase II studies in 2008, with results expected in early 2009
Neuren Pharmaceuticals (ASX: NEU) today announced that it will acquire Hamilton Pharmaceuticals ("Hamilton") in a transaction that will provide Neuren a late stage compound with proven human efficacy and add three leading life science investors as shareholders in Neuren. The acquisition represents a major milestone for Neuren and will position the Company as a key player in the central nervous system ("CNS") field, specialising in cognitive and...
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