Biocortech was established in November 2001 to commercialize the fruits of the founders' research into the underlying causes of treatment-resistant forms of CNS diseases such as depression and schizophrenia. The company's aim is to develop effective therapies for these and other diseases associated with the pre-frontal cortex of the brain, such as bipolar disorder and cognitive and sexual disorders.
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At first sight, CeNeS' decision to sell a guaranteed product revenue stream--the envy of most cash-strapped biotechs these days--may look odd. But in exchange, the UK biotech gets the lump sum it needs to take its own two late-stage products forward, and a chance, at least, of generating the sort of upside investors have bet on.
Despite the challenges of neuropsychiatric drug discovery, focused research into CNS pathways has raised hopes that R&D can be rationalized sufficiently to lower risk. A new generation of biotechs is about understanding the neural mechanism of disorders and then finding compounds that address the mechanisms.
Built on technology from the lab of Nobel laureate Paul Greengard, PhD, Intra-Cellular Therapies Inc. aims to develop small-molecule compounds that modify intracellular responses to endogenous neurotransmitters as therapeutics for Parkinson's disease, depression, schizophrenia and other CNS disorders.