Under the agreement, AstraZeneca will grant Pharmnovo access to a library of approximately 50 compounds which Pharmnovo will explore for potential migraine therapies. AstraZeneca will have the right of first refusal for any commercial opportunities arising from this collaboration. No further terms of the agreement were disclosed.

Pharmnovo´s novel approach to medicine development combines a unique blend of biomedical research expertise from both academia and the pharmaceutical industry to develop novel treatments, based on neuropeptide receptors, for migraine and other painful conditions. The company has outstanding expertise in drug discovery project organization and development which will be used to advance novel lead research compounds towards the clinic. Key partners are researchers at the Universities of Gothenburg, Liverpool, Nottingham and Iowa, a distinguished pharmaceutical/academic research board and several key supporting companies including Semcon AB, Syntagon AB and Sensa Corporate Advisors AB.

 “This agreement is an example of AstraZeneca´s strategy of collaborating in order to more efficiently bring therapies for important medical conditions to the market. Pharmnovo is an ideal partner in the migraine area, with a structure-based drug discovery platform technology well suited for the optimization of these compounds," says Philippe Walker, Interim Global Vice President, CNS and Pain Research Area, AstraZeneca.
 
About Pharmnovo: Pharmnovo was founded in 2008 by Bengt von Mentzer, constructing an outstanding research knowledge network in chronic pain, inflammation, neuropeptide receptor interactions and genetics, underpinning translational research with a migraine focus. Pharmnovo will broaden its investor portfolio in the coming years to support its increasing presence in the biomedical area.

www.pharmnovo.com

For contact:
Bengt von Mentzer, mobile: +46735450269, tel: +4631205929,
e-mail: bengt.mentzer@pharmnovo.com