Indian Pharma major Cipla Limited on 11 May 2014 announced to invest in US based Chase Pharmaceuticals to develop Alzheimer's drug.
The investment of 21 million US dollar will be made through Cipla (EU) Limited, a wholly owned subsidiary of Cipla. Cipla will acquire 14.6 percent stake in Chase Pharmaceuticals.
The 21 million US dollar two-phase financing will support Phase 2a and Phase 2b clinical trials for Chase’s lead drug CPC 201.
In addition to financing Chase, Cipla will collaborate with the company to develop the drug. If successful, Cipla may provide low cost access to Chase’s lead drug in India and South Africa.
Chase is focused on developing novel approaches to improve treatments for Alzheimer’s disease. Chase has a unique patented approach and is focused on improving the efficacy, safety and tolerability of existing Alzheimer medications.
In India, over 5 million patients suffer from dementia; most of them are afflicted with Alzheimer’s. These numbers are expected to double by 2030.
When: 11 May 2014