This month's issue took a bit more of my blogging time than usual and as you can see the neurotech markets didn't slow down in August.
INSIDE THIS ISSUE: ANXIETY DISORDERS, published August 31, 2006
Companies covered in this issue include: Acadia, Accera, Acumen, Aspect Medical, AstraZeneca, Athersys, Biogen-Idec, BrainCells, Bristol Myers Squibb, Epix, Evotec, Genentech, GlaxoSmithKline, Intrapace, King, Mithridion, Mitsubishi Pharma, Nastech, Neurochem, Neuren, NeuroSonix, NeuroVasx, Northstar, Organon, Palatin, Predix, Pfizer, Reata, Rhinocyte, Roche, Sanofi-Aventis, Thiakis, UCB Pharma, Wicab, Wyeth, and Zogenix.
MARKET HIGHLIGHTS: PRIVATE COMPANIES GATHER OVER $180 MILLION IN FINANCING
August was a notable month for private neurotech companies with 11 companies pulling in over $180 million. Obesity continues to be a hot area for both drugs (see Thiakis, page 8) and devices (see Intrapace, page 7). A new company, Zogenix, formed to commercialize Aradigm’s Intraject needle free subcutaneous delivery technology in CNS and pain, closed the largest round in August with a $60 million Series A (see Zogenix, page 8). Neurochem (NRMX) reached new 52 week highs after announcing an approvable letter from the FDA for their experimental treatment for Amyloid A amyloidosis called Kiacta (eprodisate), formerly known as Fibrillex. Aspect Medical (ASPM) bounced back from a recent sell off after announcing plans to buyback 2 million shares of its stock...
EMERGING TREATMENTS FOR ANXIETY DISORDERS
Anxiety disorders include panic disorder, phobic disorders, obsessive-compulsive disorder (OCD), posttraumatic stress disorder (PSD), acute stress disorder, generalized anxiety disorder (GAD), and secondary anxiety due to drugs or illness. Anxiety is one of the most common psychiatric symptoms, yet it is often unrecognized and untreated. Symptoms can be vague and fleeting and patients are often embarrassed and prone to hiding their condition. Strong and persistent anxiety often results in self-medication and drug dependence. There are, however, effective treatments on the market and in the pipeline…
EPIX: PREDIX MERGER BRINGS CNS DISCOVERY PLATFORM
A new entity emerged on August 16 out of a merger of Epix Pharmaceuticals Inc. and Predix Pharmaceutical Holdings Inc. The new company trades on the Nasdaq Worldwide Markets under the EPIXD ticker. Its debut was well received by investors and the stock gained nearly 20% on its opening day. Predix brings a drug development arm focused on CNS disorders into the new entity...
CNS Product & Clinical Trial Updates
-Neuren Pharmaceuticals announces new neuroprotection lead
-Palatin and King show positive results in female sexual dysfunction
-Northstar to test neurodevice in depression
For more details and updates on Evotec, Athersys, Neurochem, Nastech Pharmaceuticals, UCB, Accera, Corcept, Genentech, Biogen and more click here.
As of August 31st, the Neurotech Index, which was started December 31, 2003, is up 50%, compared to respective gains of 17% and 9% for the S&P 500 and the NASDAQ Composite Index. The Neurotech Index is also outpacing the NASDAQ Biotech Index, another life-sciences-oriented measure of the public markets, which has gained 4% during the same period.