TORONTO, May 8, 2014 /CNW/ - Portage Biotech Inc. ("Portage") (OTCQB: PTGEF, Canadian Stock Exchange: PBT.U) is pleased to inform that its wholly owned subsidiary, Portage
Pharmaceuticals Ltd. (PPL or the Company), has entered into a
Collaborative Research Agreement with Yale University to study the
biological activity and cell penetrating properties of peptides
developed by Portage and by Professor Alanna Schepartz, of Yale's
Department of Chemistry. These studies will compare the ability of
these peptides to cross cell membranes and deliver biologically active
cargo to an intracellular target.
Dr. Bruce Littman, CEO of the Company commented, "This is a win-win for
all parties as we will learn more about the physical properties of our
peptides and Professor Schepartz will see if her peptides are able to
convey biologically active cargo into cells that lead to changes in
Portage is engaged in researching and developing pharmaceutical and
biotech products through to clinical "proof of concept" with an initial
focus on unmet clinical needs. Following proof of concept, Portage will
look to sell or license the products to large pharmaceutical companies
for further development and commercialization.
Apart from PPL, Portage holds 54% equity in Biohaven Pharmaceutical
Holding Company Limited ("Biohaven"). Biohaven is engaged in the
identification and development of clinical stage neuroscience compounds
targeting the glutamatergic system. The company obtained a license from
Yale University regarding intellectual property for the use of certain
glutamate modulating agents in the treatment of neuropsychiatric
disorders. Biohaven's first drug candidate is being developed for
treatment-resistant mood and anxiety disorders. The lead drug candidate
is a Phase 2 ready compound and will enter clinical testing for
treatment-resistant mood or anxiety disorders next year. A second
unique drug candidate also targeting the glutamatergic system has a
well-established safety profile and will begin optimization of its
formulation in 2014.
Portage is seeking discovery and co-development partners in areas such
as cancer, infectious disease, neurology and psychiatry developing
novel targeted therapies, stem cell therapy and even older marketed
products that have been found to have novel patentable characteristics
that bring new value to patients.
Portage seeks to work with a wide range of partners, in all phases of
development through in-licensing or other types of alliances. The
collaboration may include direct funding or investing human capital
from our extensive pool of talented scientists and physicians.
Specifically Portage will invest sweat equity as well as, or instead
of, capital. This internal pool of drug developers, financiers,
scientists and physicians will provide unique value-add for our
partners including but not limited to mitigating risks, clinical trial
design, regulatory expertise and maximizing the rewards.
For further information, contact Dr. Greg Bailey, the Chairman at firstname.lastname@example.org or Kam Shah, Chief Financial Officer, at (416) 929-1806 or email@example.com or visit our website at www.portagebiotech.com.
This news release includes forward-looking statements within the meaning
of the U.S. federal and Canadian securities laws. Any such statements
reflect Portage's current views and assumptions about future events and
financial performance. Portage cannot assure that future events or
performance will occur. Important risks and factors that could cause
actual results or events to differ materially from those indicated in
our forward-looking statements.
Portage assumes no obligation and expressly disclaims any duty to update
the information in this News Release.
SOURCE: Portage Biotech Inc.
For further information:
contact Dr. Greg Bailey, the Chairman at firstname.lastname@example.org or Kam Shah, Chief Financial Officer, at 416 929-1806 or email@example.com or visit our website at www.portagebiotech.com.