A New Jersey-based biopharmaceutical company has entered into an agreement to license intellectual property from the UWM Research Foundation to use in developing commercial products.
The agreement grants patent and technology rights held by UWMRF to RespireRx Pharmaceuticals Inc. for compounds that have shown promise for treatment of epilepsy and other convulsant disorders. The company is focused on the research and development of ampakines for central nervous system disorders and cannabinoids for the treatment of sleep-related breathing disorders.
A scientific team led by Dr. James Cook at the University of Wisconsin-Milwaukee and Dr. Jeffrey Witkin of the Indiana University School of Medicine is working with RespireRx on developing potential treatments.
Under the patent license agreement, RespireRx is required to pay to UWMRF past patent costs, clinical milestone payments upon the dosing of the first patient in a Phase II clinical trial and in a Phase III clinical trial, upon the approval of new drug applications with the Food and Drug Administration and royalties on net sales of products developed with the licenses. Read the full story here.