Memory Pharmaceuticals
A biopharmaceutical company that focuses on the discovery and development of drug candidates.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor | €0.0 | round | |
| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
| N/A | $50.0m Valuation: $50.0m | Acquisition | |
| Total Funding | 000k | ||
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Memory Pharmaceuticals Corp. was a biopharmaceutical company established in 1998, with a specific focus on creating drugs to address debilitating central nervous system (CNS) disorders. The company was co-founded by Dr. Axel Unterbeck and capitalized on the foundational neuroscience research of Nobel laureate Dr. Eric Kandel, who also served as a scientific advisor. Dr. Kandel's work, particularly with the sea slug Aplysia, was instrumental in understanding the molecular mechanisms of memory, providing a scientific basis for the company's drug development programs.
The company's primary mission was to develop treatments for conditions marked by significant memory and cognitive impairment, such as Alzheimer's disease and schizophrenia. Its business model centered on the discovery and clinical development of novel drug candidates. A key area of its research involved nicotinic alpha-7 agonists, which were believed to hold promise for treating CNS disorders. This led to a strategic partnership with the global healthcare company Roche. Memory Pharmaceuticals advanced several candidates into clinical trials, including R3487/MEM 3454, which entered Phase II trials for Alzheimer's and schizophrenia, and R4996/MEM 63908, which was in Phase I for Alzheimer's.
After a decade of operation and progress in its research pipeline, Memory Pharmaceuticals was fully acquired by Roche in November 2008. The all-cash transaction was valued at approximately $50 million. The acquisition was a strategic move for Roche to secure the continued development of the promising nicotinic alpha-7 agonists and integrate Memory's research into its own extensive R&D portfolio for CNS diseases.
Keywords: CNS disorders, biopharmaceutical, drug development, Alzheimer's disease, schizophrenia, cognitive impairment, nicotinic alpha-7 agonists, clinical trials, neuropharmacology, Roche acquisition, Eric Kandel, Axel Unterbeck, CNS research, memory loss treatment, R3487, MEM 3454, R4996, MEM 63908, central nervous system, drug discovery