CAMBRIDGE, Mass., May 23, 2019 –
Cadent Therapeutics, a company focused on the development of therapies to improve the lives of patients with movement and cognitive disorders, today announced the receipt of the second milestone payment from Novartis following the initiation of a Phase 2 clinical study of MIJ821, a subtype selective NMDA receptor negative allosteric modulator (NAM), in development for treatment-resistant depression (TRD).
“We are excited to announce that Novartis has advanced MIJ821 to the next stage of clinical development,” said Jodie Morrison, Chief Executive Officer of Cadent Therapeutics. “MIJ821 is a selective and potent NMDA receptor modulator that we believe will take both an important and differentiated position in the treatment of treatment resistant depression by building on the validated mechanism of NMDAr modulation.”
Cadent Therapeutics exclusively licensed the intellectual property for compounds that selectively modulate NR2B-containing NMDA receptors to Novartis. This license included MIJ821 (CAD-9271). Novartis is conducting all research and development for the program.