Ixico Regulatory News (IXI)

21 Jan 2008 07:01

Phytopharm PLC21 January 2008 Company Contact: U.K. Investor Relations Contact:Phytopharm plc FDDr Daryl Rees CEO David YatesPiers Morgan CFO Ben Atwell+44 1480 437 697 +44 207 831 3113www.phytopharm.com Phytopharm receives $1.16 million funding from Michael J. Fox Foundation fordevelopment of Cogane(TM) as a treatment for Parkinson's disease GODMANCHESTER, Cambridgeshire, U.K. (21 January 2008) - Phytopharm plc (LSE:PYM) ("Phytopharm" or the "Company") announces today that it has been awardedfunding by The Michael J. Fox Foundation for Parkinson's Research (MJFF) tosupport the development of Cogane(TM) as a treatment for Parkinson's disease(PD). The $1.16 million award will be paid over a period of two years. In pre-clinical models, Cogane(TM) reverses the changes in the area of the braininvolved in Parkinson's disease by inducing the body's own production ofproteins known as neurotrophic factors. In particular, one of these factorsknown as "GDNF" has been shown to be particularly effective in re-growingdamaged nerves. Since GDNF is a protein it cannot be given orally (in pill orliquid form) because it is degraded in the stomach and intestine, and also doesnot readily cross the blood-brain barrier. GDNF can work only when injectedinto or when produced inside the brain. Direct injection of GDNF into the areaof the brain involved in Parkinson's disease has shown substantial beneficialeffects in small-scale clinical studies but requires highly complex anddifficult surgical procedures. Cogane(TM), which can be taken orally, readilycrosses the blood-brain barrier and stimulates the release of GDNF in the brainand therefore has the potential to overcome many of the difficulties associatedwith GDNF administration. The MJFF funding will support preclinical studies to determine the optimaldosing requirements for Cogane(TM) and will be carried out by Dr JonathanBrotchie, a Senior Scientist at the Toronto Western Hospital and part of theUniversity Health Network (UHN) in Toronto, Canada. Dr Brotchie is a recognisedexpert in the field of Parkinson's disease and, at UHN, runs one of the world'spremier research laboratories for the identification of novel treatments,diagnostics and cures for Parkinson's disease and related disorders. Phytopharm is also in discussions for additional financial support fromcharitable organisations to further develop Cogane(TM) as a treatment forParkinson's disease and also Myogane(TM) as a treatment for motor neuronedisease. Commenting, Katie Hood, Chief Executive Officer of MJFF, said: "MJFF isextremely eager to see the development of an orally bioavailable product thatcan stimulate production of GDNF or other neurotrophic factors in the brain. Thedevelopment of novel alternative delivery mechanisms for neurotrophic factors iscritical in realizing the potential of these proteins to restore motor functionand increase quality of life for Parkinson's disease patients." Commenting, Dr Daryl Rees, Chief Executive Officer of Phytopharm, said: "We arevery pleased that The Michael J. Fox Foundation is supporting the potential ofCogane(TM) with this award. Cogane(TM) stimulates the brain itself to releaseGDNF and therefore overcomes the difficult surgical problems associated withdirect GDNF injection into the brain. Pre-clinical studies with Cogane(TM) havebeen highly encouraging in reversing the changes in the area of the braininvolved in Parkinson's disease, providing hope that Cogane(TM) could restorenormal control of movement. The granting of this award will allow us to optimisethe oral dosing requirements for this promising therapy." -Ends- Notes to Editors Phytopharm plc Phytopharm is a pharmaceutical development and functional food company. Ourproducts are developed from medicinal plants, thereby reducing the developmentrisk, cost and time to market. As a virtual company, Phytopharm's model iscentred on a lean cash burn with all laboratory, manufacturing and clinical workout-sourced to specialists, while core competencies such as strategy andmanagement are maintained in-house. Close collaboration with charitableorganisations enhances our interaction with Key Opinion Leaders and acceleratesour development programmes increasing their value. The Michael J. Fox FoundationFounded in 2000, The Michael J. Fox Foundation for Parkinson's Research isdedicated to ensuring the development of a cure for Parkinson's disease withinthis decade through an aggressively funded research agenda. The Foundation hasfunded $112 million in research to date. More information on the Foundation isavailable at www.michaeljfox.org. Cogane(TM) Cogane(TM) (PYM50028) is a novel non-peptide, orally bioavailable neurotrophicfactor inducer that readily crosses the blood brain barrier. In pre-clinicalstudies, Cogane(TM) stimulates the release of neuronal growth factors such asGDNF, increases neurite outgrowth and protects against neuronal degeneration.Importantly, Cogane(TM) also reverses the decrease of GDNF and reversesdopaminergic neuronal degeneration observed in vitro and in vivo. Whenadministered orally to pre-clinical models of Parkinson's disease, Cogane(TM)reverses the loss of dopaminergic neurones. Parkinson's disease Parkinson's disease is a movement disorder characterised by muscle rigidity,tremor, a slowing of physical movement (bradykinesia) and, in extreme cases, aloss of physical movement (akinesia). The primary symptoms are the result ofaltered signalling of an area of the brain, the striatum, responsible for thecontrol of movement. This is caused by degeneration of dopaminergic neuronesbetween the striatum and the substantia nigra part of the brain leading toinsufficient formation and action of dopamine. Parkinson's disease is thereforetermed a neurodegenerative disease. The disease is slow in onset and theappearance of symptoms reflects the gradual loss of dopaminergic neurones. The prevalence of the disease is estimated to be 100 to 200 per 100,000population (Source: Datamonitor). In the US alone, there are estimated to beone million patients with diagnosed Parkinson's disease with associatedhealthcare costs to the economy of $25 billion (Source: Northwest Parkinson'sFoundation submission to US Congress). Parkinson's disease can affect people ofany age, though the incidence is higher in older people. Individuals willexperience varying combinations of the symptoms, each with differing degrees ofseverity. The cause of Parkinson's disease in the majority of cases is unknown(idiopathic Parkinson's disease), though some cases have been found to have ahereditary component (familial Parkinson's disease) and possible mechanismsinclude oxidative damage of nerve cells coupled with loss of neurotrophicfactors. Neurotrophic factors such as GDNF are essential for the survival andmaintenance of nerve cells and provide protection against toxic insults, howeveras proteins, their utility as pharmacological treatments are limited (Source:Michael J. Fox Foundation for Parkinson's Research). At present, there is no cure for Parkinson's disease, but a variety ofmedications provide relief from the symptoms, usually by dopamine replacementtherapy either by L-DOPA, which is converted to dopamine in the striatum, or bydopamine agonists which act on the dopamine receptors to restore normal motorfunction (control of movement). However, both treatments cause either lessdopamine to be released by the brain or the dopamine receptors to becomeprogressively less sensitive, thereby eventually increasing the symptoms of theunderlying Parkinson's disease. There is an urgent need for the development ofnew approaches to this debilitating condition and non-peptide orallybioavailable neurotrophic factor inducers which readily cross the blood brainbarrier represent an important therapeutic approach. For further information about Phytopharm please see our website at http://www.phytopharm.com Dr Jonathan Brotchie Dr Jonathan Brotchie is Senior Scientist at the Toronto Western Hospital, whichis part of the University Health Network (UHN) in Toronto, Canada. He is alsothe Founder and Chief Executive Officer of Atuka Ltd., a contract research andconsultancy services company for the development of novel therapeutics anddiagnostics for Parkinson's disease. Jonathan is a renowned scientist in thefield of Parkinson's disease and, at UHN, runs one of the world's premierresearch laboratories for the identification of novel treatments, diagnosticsand cures for Parkinson's disease and related disorders. In the last decade hehas published many influential scientific papers in the field of Parkinson'sdisease and related disorders. His research has been particularly associatedwith pioneering the concept of non-dopaminergic treatments for Parkinson'sdisease. Jonathan is also Scientific Director of the Cure Parkinson's Trust, acharity supporting research aimed at delivering better treatments and cures forParkinson's disease. This information is provided by RNS The company news service from the London Stock Exchange