Canada's GB Therapeutics Acquires Parkinson's Agent From Chiesi

Canadian pharmaceuticals firm GB Therapeutics signed an exclusive licence agreement for a molecule known as CHF1512, currently under development by Italy's Chiesi Farmaceutici SpA. The deal reportedly represents an equity investment in Chiesi by the Canadian drugmaker.

CHF1512, a compound which is a methyl-ester of levodopa and melevodopa, combined with the decarboxylase inhibitor carbidopa, has completed Phase III clinical trials for Parkinson's disease in Europe. The product is already registered in Italy, although further trials to comply with US FDA regulations are to begin in early 2006. Financial terms of the arrangement were not disclosed.