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Biotie granted USD 2 million by Michael J. Fox foundation

Finnish biotech company Biotie has received two million dollars from a foundation set up by Hollywood star Michael J. Fox.

The grant provides an opportunity to see if Biotie’s SYN120 treatment can slow the progress of dementia in patients with Parkinson’s Disease. The company is now planning a 16-week trial involving 80 patients at about 10 US sites. The firm aims to test if the treatment can improve patients’ cognitive abilities.

“There is an urgent need to find safe and effective treatments for Parkinson’s patients suffering from impaired cognition,” said Timo Veromaa, Chief Executive Officer at Biotie.

SYN120 was developed by Roche but licensed by Biotie in 2009. The Finnish company has explored the possibility of using it to treat Alzheimer’s disease.