TorreyPines sells Alzheimer's rights to Eisai

TorreyPines Therapeutics announced yesterday that it has sold its Alzheimer's disease genetics research program to Eisai for an undisclosed up-front cash payment. The Alzheimer's program involved the discovery of disease targets using whole-genome family-based association screening. TorreyPines and Eisai partnered on the genetics program back in 2002. With the most recent agreement concluding on September 30, 2008, the two companies have decided to part ways.

 "We are pleased to announce the sale of our genetics program to our long-time partner, Eisai," said Ev Graham, acting CEO of TorreyPines. "The sale of this asset furthers our transition to a development-only company and enables us to focus our resources on advancing our clinical stage assets: tezampanel, NGX426 and NGX267. As a leader in treating Alzheimer's disease we believe Eisai is well positioned to capitalize on the discoveries from the genetics program."

This comes weeks after the troubled company announced its latest restricting plan, which included cutting half of its workforce and all discovery programs in order to focus on these three programs already in development.

- read the TorreyPines release [1] for more

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TorreyPines plans layoffs in streamlining [3]
TorreyPines strikes IP deal with CalciMedica [4] (May 2007)