Allelix deal

AXB and the Government of Ontario's Industry Research Program (IRP) formed a partnership to allow the Toronto company to accelerate work on its neuroscience projects. IRP will provide the partnership with C$4 million.

The work includes a co-development and licensing agreement with researchers from the Playfair Neurosciences Unit of the Toronto Hospital. AXB has licensed and is develping compounds patented by Playfair that protect the brain from neuronal damage caused by stroke, head and spinal injury. The compounds act through a mechanism that increases the cell's capacity to lower excessive calcium. AXB expects to begin preclinical trials in 1996. ...