ATHENAGEN ACQUIRES OSPREY PHARMACEUTICAL COMPANY

Athenagen, Inc., a privately held biopharmaceutical company, announced today that it has acquired the assets of Osprey Pharmaceutical Company, which include a lead clinical compound targeting Alzheimer's disease, as well as a large library of related analogs. The lead compound, GTS-21, is a novel, orally active alpha-7 nicotinic acetylcholine (nACh) receptor agonist that has demonstrated memory and cognition enhancement activity in Phase I studies.
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