Wednesday, 18 March 2009
Edith Cowan University (ECU) and Perth-based pharmaceutical company Alzhyme Limited have joined forces to help advance the diagnosis and treatment of Alzheimer's disease.
This exciting new partnership will allow new research developments at ECU to move into commercialisation.
The license and option agreement gives Alzhyme the first option to license new Intellectual Property for commercialisation in the field of diagnosis and treatment of Alzheimer's disease.
Alzhyme will also have the option to fund new projects on a commercial basis, either exclusively or in partnership with ECU.
Alzheimer's disease is the most common form of dementia, yet currently there is no cure for the disease and no way to diagnose the condition in its early stages.
Currently, there are estimated to be over 20 millions sufferers worldwide and the number of people with Alzheimer's disease is expected to double over the next two decades.
Professor Ralph Martins is a leading WA-based researcher in the field of Alzheimer's disease, having achieved a number of research breakthroughs.
Currently Director of the Centre of Excellence for Alzheimer's Disease Research and Care at ECU, Professor Martins has also been appointed founding scientist and Chief Scientific Officer of Alzhyme Limited.
Dr Marcia Taylor, Director of Research and Innovation at ECU will be taking up the position of Non-Executive Director on the Alzhyme's Board.
Dr Greg Thomas, Alzhyme's Chief Executive Officer, says the research being undertaken by Edith Cowan University into Alzheimer's disease is of the highest quality.
"I am delighted that Alzhyme now has a wonderful opportunity to expand its product pipeline through licensing the cutting-edge research coming out of Edith Cowan University."
ECU Deputy Vice-Chancellor (Research), Professor John Finlay-Jones says the partnership will allow ECU to continue to further the understanding of Alzheimer's disease through research.
"Research partnerships such as this one are critical to the advancement of medical research and will hopefully one day lead to the effective treatment of this debilitating disease," he says.
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