NECTID ANNOUNCES INITIATION OF CLINICAL DEVELOPMENT OF AUTISM AND PAIN DRUGS Princeton, New Jersey – August 16, 2012
Nectid, Inc. (www.nectid.com
), a Princeton based pharmaceutical product development company focused on discovering and developing novel drugs, announced initiating clinical development of agomelatine for autism and pain indications
in the United States.
Agomelatine is a melatonergic agonist (MT1 and MT2 receptors) and 5-HT2C antagonist and is approved for the treatment of major depressive disorder in Europe, Australia and in several countries. Agomelatine has been reported to resynchronize circadian rhythms to restore sleep cycle. Circadian rhythm is believed to be involved in several disorders such as neuropathic pain, fibromyalgia, inflammatory bowel disorders, autism spectrum disorders, and in multiple sclerosis.
Nectid’s founder/CEO Ram Sesha has said, “This is a repurposing program of a known and safe drug to provide several key unmet needs. Sleep and fatigue are significant issues in chronic pain and multiple sclerosis, etc. Similarly, sleep difficulties particularly insomnia, occur in 50–80% of children with autism spectrum disorders and tend to affect day time behavior. In our proof of concept studies, agomelatine was found effective in reducing neuropathic pain, pain from fibromyalgia, and in improving sleep and day time behavior in children with Autism Spectrum Disorders. The data, to be released soon, was found statistically significant in all three cases. Nectid plans to develop these projects through FDA approval while in licensing discussion with multiple interested parties”.
Nectid Inc., (www.nectid.com
), is a Princeton based drug-discovery company that focuses on repurposing known drugs for Central Nervous System (CNS), developmental and metabolic disorders. Nectid has licensed 21 patents in the last three years to branded pharmaceutical companies. Nectid raised a Series A funding recently from Singapore based Agnus Global Fund. Nectid has three project at clinical stage and six projects at conceptual stage.