Icagen Receives Milestone Payment From Yamanouchi Pharmaceutical

Icagen has received a milestone payment from Yamanouchi Pharmaceutical related to the selection of a compound for advanced preclinical studies as a result of the collaboration between the two companies in dementia, including Alzheimer's disease.

The Icagen/Yamanouchi collaboration in dementia, including Alzheimer's disease, which began in 2000, provided for an initial upfront payment, research funding and milestone payments to Icagen in return for worldwide rights to lead compounds generated for the treatment of these disorders. Additionally, Yamanouchi supports clinical development and Icagen will receive royalties from the sale of any products generated by the collaboration.