Business Weekly - Cambridge, UK

Asterand licensed the compound in 2006

 The Royston-based company said that the out-licensed compound has progressed to clinical development, and entered a phase I study to assess its safety, tolerability and pharmacokinetic profile in healthy volunteers.

As a result of the progression, BTG has paid Asterand £250k in accordance with their licensing agreement, which could net the tissue specialists further milestone payments, licensing fees and royalties, should the compound continue on to further stages of development.

Asterand licensed the compound to BTG back in 2006, as part of the company's plan to maximise the value of its intellectual property portfolio, after the 2006 merger between Pharmagene and Asterand.

The new compound has a different mechanism of action on migraine than drugs currently on the market and, if successful in clinical development, could provide a much sought after alternative for sufferers.

"Partnering with a strong company like BTG gives me confidence that this compound will reach its full potential and hopefully enhance the quality of life for migraine sufferers," said Asterand's CEO, Martyn Coombs.

"Many of our compounds were originally developed using human tissue. Licensing them out allows their continued development while we focus on further advancing drug discovery by being the pre-eminent supplier of human tissue and human tissue based services."

"We will continue to look for opportunities to maximise the value of our other compounds."

Shares in the firm have gained over six per cent in value, growing to 5.7p. 

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