NeuroSolutions to collaborate with Epichem

NeuroSolutions, a subsidiary of newly listed neurology-focused biotech company NeuroDiscovery (ASX:NDL) has entered into a collaborative agreement with Epichem, a subsidiary of PharmAust (ASX:PAA) to assist with the development of one of NeuroSolutions' lead pain drug candidates, NSL-036.

NeuroSolutions has identified the potential utility of NSL-036 for the treatment of pain, and said an injectable version of NSL-036 has been demonstrated to be highly effective in a pre-clinical model of neuropathic pain.

In addition to advancing the development of NSL-036, NeuroSolutions and Epichem plan to utilise the injectable version of NSL-036 as a template to build compounds suitable for oral dose forms for the treatment of neuropathic pain.

NeuroDiscovery chairman David McAuliffe indicated that the company was planning to secure other agreements. "We are doing a lot of business development work at the moment and think there is quite an opportunity to enter into further collaborations in Australia," he said.

NeuroDiscovery acquired a 100 per cent stake in UK-based NeuroSolutions earlier this year, and listed on the ASX on August 15 following an initial public offer which raised $1.5 million from the issue of 7.5 million shares at 20 cents each.

NeuroSolutions was established at Warwick University in 2001 and is involved in the research and development of new pain relief treatments, as well as the provision of contract electrophysiology research for the biopharmaceutical market.

McAuliffe said there was no intention to change the name of the company, "NeuroSolutions is already established in the UK and is becoming more recognisable in the US."

At time of writing NeuroDiscovery shares were trading at AUD$0.195.