AXONYX, TORREYPINES ANNOUNCE MERGER FOR CNS PRODUCT DEVELOPMENT

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New York-based Axonyx and TorreyPines, headquartered in La Jolla, Calif., have entered into a definitive merger agreement to create a new biopharmaceutical company that discovers and develops treatments for central nervous system (CNS) disorders. The resulting company will be named TorreyPines Therapeutics, and be headquartered in San Diego, Calif.

The combined company will have a diversified CNS pipeline focused on novel therapeutics for neurological diseases and disorders, the companies reported. The initial focus will be on migraine, chronic pain and Alzheimer's disease. The pipeline at closing will include eight product candidates, with two candidates for pain and six for Alzheimer's disease.