Schizophrenia Daily News Blog

New Cognitive Medication in Development

Stanley Institute Announces $3.8 million investment for developing cognitive deficit therapy

Saegis Pharmaceuticals, Inc., a privately held biopharmaceutical company announced that The Stanley Medical Research Institute (SMRI) is providing Saegis with up to $3.8 million to continue funding human clinical trials of SGS518.

Saegis is developing SGS518 as a treatment for the cognitive deficit that occurs in schizophrenia.

As we covered previously in the schizophrenia.com news blog, this is the second award that Saegis has received from SMRI for this therapeutic clinical development program. In January, 2004, Saegis received a $2 million investment from The Stanley Medical Research Institute to support the initiation of the company's phase 1 clinical study of SGS518.

SGS518 is a selective antagonist of the 5-hydroxytryptamine-6 (5-HT6) serotonin receptor believed to act by enhancing transmission of chemicals in the brain. Saegis is developing SGS518 in cooperation with Eli Lilly and Company as a treatment for the cognitive impairment associated with schizophrenia (also referred to as CIAS).

Source: Saegis Pharmaceuticals, Inc.

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Stanley Medical Research Institute

Original Press Release