Michael J. Fox foundation grants Biotie $2 million

Finnish biotech company Biotie has received two million dollars (1.5 million euros) from a foundation set up by Hollywood star Michael J. Fox.

Biotie focuses on products for neurodegenerative and psychiatric disorders. It will use the money to see if its SYN120 treatment can slow the progress of dementia in patients with Parkinson’s Disease.

Biotie says it is now planning a 16-week trial involving 80 patients at about 10 US sites. The firm aims to test if the treatment can improve patients’ cognitive abilities.

There is an urgent need to find safe and effective treatments for Parkinson's patients suffering from impaired cognition, said Timo Veromaa, Chief Executive Officer at Biotie.

This grant provides a great opportunity to further characterise the potential of this drug candidate.

SYN120 was developed by Roche but licensed by Biotie in 2009. The Finnish company has explored the possibility of using it to treat Alzheimer’s disease.

The Michael J. Fox Foundation was established in 2000 to help fund treatments and research into Parkinson's disease. Michael J. Fox was diagnosed with Parkinson's disease more than 20 years ago.

Source: GoodNewsFromFinland