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Cypress Bioscience licenses drug for fibromyalgia - 500 Beiträge pro Seite

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Cypress Bioscience licenses drug for fibromyalgia
SAN DIEGO, Aug 1 (Reuters) - Cypress Bioscience Inc. (NasdaqSC:CYPB - news) on Wednesday announced it had licensed a compound, milnacipran, it believes can be used to treat fibromyalgia, a chronic disorder characterized by pain and fatigue.

The company said it has an exclusive license from the pharmaceutical division of bioMerieux Pierre Fabre of France to develop and sell any product with milnacipran as an active ingredient for the treatment of fibromyalgia syndrome and related chronic pain syndromes in the United States and Canada.

Shares of Cypress Bioscience, which said the agreement is the first step in building its product portfolio, rose 36 cents, or 14.3 percent, to close at $2.88 in late trading on Nasdaq.

Milnacipran is currently marketed as an antidepressant under the trade names Ixel and Toledomin in Europe, South America and Asia.

Fibromyalgia is estimated by the American College of Rheumatology to affect 3 million to 6 million people in the United States. It is the second most commonly diagnosed rheumatological disorder after osteoarthritis, but there are currently no approved products for specifically treating the condition.

Cypress said it expects to begin trials designed to test milnacipran for fibromyalgia early next year.

The company said it believes milnacipran may be a viable treatment because it is a dual action drug that affects two neurotransmitters -- serotonin and noradrenaline, both of which are involved in modulating pain.

Under the terms of the agreement, Cypress will pay Pierre Fabre an upfront payment as well as additional payments based on meeting certain clinical and regulatory milestones and eventual royalties.

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