–– Reset Licenses Novel Orexin Modulators From Drug Discovery Platform ––
SOUTH SAN FRANCISCO, Calif.–(BUSINESS WIRE)–March 17, 2016–
Reset Therapeutics, Inc., announced today a collaboration with an affiliate of Alkermes plc for the discovery, development and commercialization of novel orexin receptor modulators from Reset’s drug discovery platform. The orexin system is a key modulator of wakefulness, appetite and mood, and its dysregulation is associated with central nervous system (CNS) disorders such as narcolepsy and depression.
“Alkermes is an ideal partner with whom to advance this exciting program given the company’s success and expertise in the development and commercialization of CNS medicines,” said Ross Bersot, CFA, President and Chief Executive Officer of Reset Therapeutics. “Our orexin receptor modulator program is a prime example of how Reset is creating novel therapeutics by pursuing drug targets associated with the circadian system. Working together with Alkermes will accelerate advancement of this program, while Reset also pursues its cryptochrome modulator program and other opportunities in its pipeline.”
Under the terms of the agreement, Reset is providing Alkermes an exclusive, worldwide option to license orexin modulators resulting from the collaboration and Reset received an upfront fee and will be eligible to receive development, regulatory and sales-based milestone payments, as well as royalties on any future product sales. Reset will be fully responsible for the development of molecules arising from the collaboration through the completion of initial phase 2 clinical studies. Alkermes also made an equity investment in Reset.
“Alkermes has a strong commitment to identify and bring innovative CNS medicines to patients with critical unmet needs,” said Mark Namchuk, Ph.D., Senior Vice President of Research, Pharmaceutical and Nonclinical Development of Alkermes. “We are very pleased to initiate this research collaboration with Reset, leveraging the company’s unique insights into orexin receptor modulator chemistry and biology to explore the development of promising novel medicines for a range of CNS diseases.”
About Reset Therapeutics
Reset, a discovery-stage biopharma company co-founded by leaders in the field of circadian biology and Bay City Capital, is developing first-in-class approaches to treating diseases by restoring the body’s natural 24-hour, or circadian, rhythms. The company engineered a proprietary platform designed to identify and characterize compounds that modulate the activity and function of molecular clocks and discovers drugs that modulate these clocks and clock-controlled systems. Reset elucidates the connections between abnormal diurnal physiology and disease and has developed a burgeoning pipeline of potential new treatments that modulate these connections.
Reset Therapeutics, Inc.
Ross Bersot, 415-652-4953
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