Neurocrine Biosciences Completes Acquisition of Northwest Neurologic, Inc.
SAN DIEGO, June 11 /PRNewswire/ -- Neurocrine Biosciences (Nasdaq: NBIX) announced today the closing of the acquisition of Northwest Neurologic, Inc. (NNL), a privately held neuroscience company. The NNL acquisition is expected to provide Neurocrine with accelerated entry into melanocortin receptors and neurotransmitter transporters.
"With the acquisition now in place, our scientists are exploiting these important neuroscience technologies for lead compounds for proprietary development or partnering opportunities," said Gary A. Lyons, president and chief executive officer of Neurocrine Biosciences.
Neurocrine Biosciences is a leading neuroscience company focused on the discovery and development of novel therapeutics for neuropsychiatric, neuroinflammatory and neurodegenerative diseases and disorders. The Company's neuroscience, endocrine and immunology disciplines provide a unique biological understanding of the molecular interaction between central nervous, immune and endocrine systems for the development of therapeutic interventions for anxiety, depression, Alzheimer's disease, Parkinson's disease, stroke, traumatic brain injury, multiple sclerosis, obesity and diabetes.
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The statements in this press release that relate to the acquisition of NNL
by the Company, the identification of drug targets and new lead compounds and
the potential development of commercial products are forward looking
statements. Such forward looking statements involve risks and uncertainties,
including, without limitation, that research funding and development will
continue under NNL's research collaborations, that NNL's scientific and
business operations will be successfully integrated with Neurocrine in a
timely manner consistent with Neurocrine's objectives, that research and
development candidates will successfully proceed through pre-clinical and
early stage clinical trials, that development candidates will prove effective
for treatment in humans in later stage clinical trials, the timely receipt of
regulatory clearances required for clinical testing, manufacturing and
marketing of products and the potential impact of competitive technologies and
potential products. For discussion of the other risks and uncertainties
potentially impacting the Company's business, see the Company's form 10-K for
the year ending December 31, 1997. Actual results and the timing of certain
events could differ materially from those indicated in the forward looking
statements as a result of these and other factors.
SOURCE Neurocrine Biosciences
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CONTACT: Elizabeth Foster or Paul Hawran of Neurocrine Biosciences, 619-658-7600