Ontario, Canada-based AlphaRx has entered into a collaboration with PharmaSeed, headquartered in Israel, for the development of new drugs for the treatment of central nervous system (CNS) disorders such as stroke and multiple sclerosis.
As per the agreement, AlphaRx will be responsible for the synthesis, characterization, formulation, analysis and production of this new class of compounds, which PharmaSeed will evaluate in stroke and multiple sclerosis models.
AlphaRx's lead compounds have shown significant immune system-modulating properties, low toxicity, rapid onset and potent anti-inflammatory activity in preclinical studies, the company said.
"We are excited to work with PharmaSeed to build on complimentary platforms that have the potential to develop therapeutic solutions for large unmet medical needs," said Michael Lee, CEO of AlphaRx. "Based upon promising pre-clinical results, we are optimistic that the relationship with PharmaSeed will help the company advance our programs through clinical development."