BioArctic Neuroscience and Swenora Biotech Enter Into Exclusive Licensing Agreement for a Novel Treatment of Spinal Cord Injury
Stockholm, Sweden, June 26th 2008. The Swedish biopharmaceutical company BioArctic Neuroscience AB and Swenora Biotech AB, today announced that they have signed an exclusive licence agreement for a novel treatment of spinal cord injury.
Under the terms of the agreement, BioArctic obtains the global rights to study, develop, manufacture and market the treatment of spinal cord injury (SCI).
Through innovative Swedish research at Karolinska Institutet and the Karolinska University Hospital, Swenora has developed a device that will contribute to successful neurosurgical interventions, which will hopefully improve functional recovery and quality of life for patients with spinal cord injury , said Mr. Hugo Thelin, Chairman of Swenora Biotech AB.
We are very pleased with this licensing agreement with Swenora, which has introduced a totally new concept for the treatment of spinal cord injury that is a devastating condition leading to a seriously diminished quality of life and with personal sufferings and economic costs , said Professor Lars Lannfelt, Chairman of BioArctic Neuroscience AB.
Peripheral nerve grafts in combination with a growth factor can promote spinal cord repair in rodent animal models of severe SCI. To promote nerve grafting procedures, a biodegradable device has been constructed where peripheral nerves are inserted together with a growth factor. The device is used during the neurosurgical procedure, when injured tissue is replaced, to connect viable nerves on each side of the injured segment. The procedure aims at rerouting regenerative pathways with multiple neuronal autografts and promoting the outgrowth of neurites.