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Prothena spins out of Elan

 
• By Eleanor Malone

Elan has carried out the demerger of its drug discovery activities into a new company, which it has named Prothena. The operation, which the firm announced back in August when its Phase III Alzheimer's antibody, intravenous bapineuzumab, partnered with Janssen and Pfizer, failed in a pivotal trial, conducted by Janssen (scripintelligence.com, 7 August 2012, 13 August 2012 and 15 August 2012).

Elan has carried out the demerger of its drug discovery activities into a new company, which it has named Prothena. The operation, which the firm announced back in August when its Phase III Alzheimer's antibody, intravenous bapineuzumab, partnered with Janssen and Pfizer, failed in a pivotal trial, conducted by Janssen (scripintelligence.com, 7 August 2012, 13 August 2012 and 15 August 2012).

Prothena combines the two activities of two pre-existing Elan subsidiaries, Neotope Biosciences and Onclave Therapeutics. Its shares are 100% owned (82% directly and 18% indirectly through a wholly owned Elan...

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