Selvita S.A. has announced that its collaboration with Orion Corporation from Espoo, Finland (ORNBV) on SEL103 program, for the symptomatic treatment of Alzheimer’s disease has reached the main research milestone and that the jointly discovered molecules from two different chemical families will progress into further pre-clinical characterization before the selection of a candidate into development.
The companies entered into a global collaboration with the aim to discover, develop and commercialize SEL103, Selvita’s proprietary program for the treatment of Alzheimer’s disease and other cognitive disorders in 2010.
Selvita is responsible for early research on the program and Orion will take over the pre-clinical and clinical development as well as further commercialization.
Under the terms of the agreement, Selvita is responsible for the discovery and Orion is responsible for the development and global commercialization.
“The joint project with Orion and Selvita has been proceeding very well despite of many challenges in the biology. I have enjoyed working with the open minded, enthusiastic, and goal-oriented team of Selvita that has been able to meet the pre-agreed deliverables of the project. Especially, Selvita’s medicinal chemistry design and synthesis people have even exceeded the high expectations we had in the start. While practical work is now gradually switching from Selvita to Orion’s responsibility I look forward to seeing confirmatory preclinical study results that would qualify compound(s) to be selected for further development and clinical studies” said Dr. Jukka Sallinen, Head of CNS Research of Orion.
“We are delighted with the research progress in SEL103" said Pawel Przewiezlikowski, the Chief Executive Officer of Selvita, "The milestone with Orion is the first publicly announced milestone from Selvita integrated research collaborations and another proof of the skills of Selvita scientific team. We look forward to the further development of the program by Orion”.