Selvita teams up with Orion to develop Alzheimer’s drug

2010-07-12

Selvita, a Krakow-based provider of solutions and services for the pharma and biotech sectors, announced the signing of a collaboration agreement with Orion, the Finish pharma and healthcare firm, regarding joint development and global commercialisation of SEL103, Selvita’s proprietary project to create a symptomatic therapy for Alzheimer’s disease and other cognitive impairments. According to Selvita, it is probably the first ever collaboration agreement between a Polish biotech company and an international pharma firm.
Under it, Selvita will be responsible for the identification and early pre-clinical development of small-molecule compounds with therapeutic potential. Orion will cover the full cost of the research, and make up-front and milestone payments to Selvita in connection with the project. The Finnish firm, for its part, will assume formal responsibility for later pre-clinical development, clinical trials and commercialisation.
The financial details of the agreement were not disclosed.