Issue Date: June 6, 2011
Elan, Proteostasis Ink Research Agreement
Elan and Proteostasis Therapeutics are joining to advance Proteostasis’ technology for the discovery and development of small-molecule drugs and diagnostics that treat neurodegenerative disorders such as Parkinson’s disease and dementia-related diseases including Alzheimer’s. The partners will work on targets and compounds that modulate proteostasis network pathways. Elan will spend $20 million for a 24% stake in Proteostasis. It may provide up to $30 million more in funding and will have right of first negotiation for licensing compounds rising from the collaboration.
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