Athenagen Completes Merger
with Zapaq – Union Creates Leading Neurovascular Disease
Franchise
SOUTH SAN FRANCISCO,
CA – AUGUST 14, 2006
Athenagen, Inc. said today that it has closed
its previously announced merger with Zapaq, Inc. The combined
privately held company is called Athenagen, with W. Scott Harkonen,
M.D., as President and Chief Executive Officer and Robert McNeil,
Ph.D., as Executive Chairman. The merger unites the companies’ extensive
research and development programs to create a leading neurovascular
therapeutics pipeline. Terms of the merger were not disclosed.
Athenagen is engaged in the discovery and
development of small-molecule drugs to treat neurovascular
disease indications, such as Alzheimer’s disease, AMD
and cognitive disorders. The company has two fundamental technology
platforms: (i) beta-secretase inhibitors for the treatment
of Alzheimer’s disease; and (ii) nACh receptor agonists
and antagonists for the treatment of angiogenesis mediated
diseases and cognitive disorders. Athenagen currently has four
product development programs based on these two technologies:
ATG003, a topical (eye drop) anti-angiogenesis compound for
neovascular AMD entering a Phase 1 study; GTS-21, an oral agonist
of the alpha-7 nACh receptor pathway for cognition enhancement
currently in a Phase 2 study; ATG002, a topical (gel) pro-angiogenesis
compound for diabetic foot ulcers currently under an active
IND and ready for Phase 1/2 study; and two clinical candidates
from the beta-secretase inhibitor program approaching Phase
1 study for Alzheimer’s disease in the first quarter
of 2007. Athenagen has its headquarters in South San Francisco
and has research operations in both South San Francisco and
Oklahoma City.
For more information: www.athenagen.com.
CONTACT:
W. Scott Harkonen, M.D.
President and CEO
(650) 869-7600
press@athenagen.com |
