Diamyd Medical outlicences Gene to Neurologix for treatment of Parkinson's disease

09-Aug-2006

Diamyd Medical AB has entered into a non-exclusive license agreement by which Neurologix, Inc., obtained rights to use the GAD65 molecule in its development of a therapeutic treatment for Parkinson's disease. Terms of the agreement include a license execution payment of US $500,000, annual fees of US$ 75,000 from year 2008 as well as milestones and royalties on commercial sales.

While GAD65 is a major autoantigen in autoimmune diabetes, it is also an enzyme that converts the excitatory neurotransmittor glutamate to the inhibitory transmittor GABA. In this context GAD65 may come to play an important role not only in diabetes treatment but also in treatments of several CNS-related disease states including but not limited to Parkinson's disease. Diamyd Medical has a worldwide exclusive license from University of California at Los Angeles for the therapeutic use of the GAD65 gene. It is the use of this gene for Parkinson's disease that now has been sublicensed to Neurologix.

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