NORTH BRUNSWICK, N.J., June 27, 2017 /PRNewswire/ -- Chromocell Corporation, a life sciences company focused on the discovery and development of therapeutics and flavors using its pioneering Chromovert® technology, today announced that the company received an additional milestone payment from Astellas Pharmaceuticals Inc. for the initiation of the multiple ascending dose portion of its phase one clinical trial with its lead compound CC8464. Chromocell is eligible to receive over $500 million in development and commercial milestones plus double-digit royalties on sales.
Under the license and collaboration agreement the two companies have agreed to develop and commercialize new therapies to treat neuropathic and other pain. Initial efforts of the collaboration are focused on Chromocell's lead compound, CC8464, an inhibitor for the NaV1.7 ion channel, involved in the transmission of pain.
Christian Kopfli, Chief Executive Officer of Chromocell said, "Our approach to treat pain is on the right path as our work with CC8464 demonstrates. We believe this is a validation of our technology which has enabled effective drug discovery with a complex target like NaV1.7. We are working on developing our pipeline and identifying additional compounds for clinical development."
Chromocell's lead compound, CC8464 (Astellas' Development Code: ASP1807), is an oral, potent, highly selective, peripherally-restricted inhibitor of NaV1.7, which is believed to be efficacious in the treatment of neuropathic and inflammatory pain. NaV1.7 is an ion channel, involved in pain transmission. CC8464 was developed using Chromocell's proprietary drug discovery platform, Chromovert®. This technology enables the company to identify rare cells suited for effective high-throughput screening resulting in the discovery of promising drug candidates.
About Chromocell Corporation
Chromocell is a life sciences company which improves consumer products and patient lives through breakthrough science and technologies. Chromocell is focused on the discovery and development of therapeutics and flavors through the use of pioneering Chromovert® technology. Chromovert® technology enables Chromocell to use rare cells ideally suited for effective high-throughput screening. Chromocell's therapeutics pipeline is currently focused on analgesics and rare diseases, where Chromovert® technology has proven highly effective in the rapid identification of potential new drug candidates, as well as discovery and development of novel flavor ingredients and natural taste enhancers. For more information, please visit our website at www.chromocell.com.
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SOURCE Chromocell Corporation