NEW YORK (AP) -- Amicus Therapeutics said Tuesday it will work with Biogen Idec to develop drugs that could treat Parkinson's disease and related conditions.
Amicus said it will study drugs that target an enzyme called GCase. The company said there is research indicating that increased GCase activity in the brain can help treat Parkinson's disease, a degenerative nervous condition that leads to muscle spasms and tremors, among other symptoms.
Biogen Idec will provide all the funding for drug research, development, and commercialization, and Amicus can receive milestone payments if the drug advances through clinical testing and regulatory review. If it is approved, the company will get royalty payments on sales.
The companies did not disclose specific terms of the agreement. Biogen Idec will also reimburse Amicus for all full-time employees working on the project.
The Cranbury, N.J., company said inherited mutations in a gene that encodes the GCase enzyme are the most common known genetic risk factor for Parkinson's disease and Lewy body dementia.
Amicus Therapeutics Inc. shares picked up 15 cents, or 5.7 percent, to $2.69 in afternoon trading. Biogen Idec Inc. stock lost $1.69 to $227.17.
Amicus does not have any approved drugs. Its most advanced experimental drug is migalastat, a potential treatment for a rare enzyme disorder called Fabry disease.
- Health Care Industry
- Biogen Idec