BTG and Senexis sign licensing accord

Cambridge, UK-headquartered BTG, a medical innovations company, says it has licensed its novel inhibitors of amyloid induced-toxicity and neuro-inflammation to fellow UK-based firm Senexis.

Under the terms of the licensing deal, the compounds will be assessed for efficacy in the treatment of neurological conditions such as Alzheimer's and Parkinson's disease. BTG will receive milestone development payments triggered by candidate selection and initiation of clinical studies. The firm adds that both itself and the technology transfer division of the Wellcome Trust have each invested L500,000 ($882,171) in Senexis to fund its R&D program, in addition to the L1.4 million the latter firm received from the Trust in November 2002.