Brane Discovery spun out from NiKem

Brane Discovery Srl, a Milan, Italy-based specialty pharmaceutical company focused on the development of novel therapies for central nervous system disorders, has been officially launched. The firm was created through a spin out of the proprietary R&D program from NiKem Research Srl. The new company is now a fully-independent specialty pharmaceutical company with a portfolio of products addressing neuropathic pain, Parkinson's disease and other CNS disorders.

Brane will receive all material and immaterial assets with regard to R&D from NiKem, including a dozen New Chemical Entity patents. Initial funding comes from the parent firm, public grants and previous milestone payments on successful collaborations. The company says it is securely funded for all major projects through to early 2008, and will launch a series A financing round in mid-2007.

The spin out of Brane leaves NiKem as a fully-independent service provider with no proprietary R&D programs, which were formerly perceived as a potential conflict of interest issue by some of NiKem's clients. Brane will be led by a new management team, mostly recruited for the purpose. Carlo Farina, former chief executive of NiKem, moves to become head of Brane and is replaced as CEO of NiKem by Giuseppe Giardina, formerly chief operating officer.