Neurobiological Technologies rises, will treat Huntington's disease
Shares of Neurobiological Technologies, Inc. (Nasdaq: NTII) are rising on news before the start of trading that the biotechnology firm has joined hands with Buck Institute for Age Research to develop a drug for the treatment of Huntington’s disease.
Emeryville, Calif.-based Neurobiological Technologies and the Buck Institute, an independent research facility focused on aging and age-related disease, announced this morning that they have formed a partnership to work on a cure for Huntington’s disease, a fatal brain disorder.
The research involves a naturally occurring protein called fibroblast growth factor-2 (FGF-2) that has been studied for its ability to protect nerve cells from degeneration. Scientists at Buck have studied FGF-2 and have discovered that mice suffering from Huntington’s disease showed a 150% increase in new nerve cells. The animals treated with the protein also lived longer and improved their motor performance.
The next step is to develop a form of FGF-2 that can be moved into human clinical trials.
“We are proud to be working with Buck on this project,” said Paul E. Freiman, president and CEO of Neurobiological Technologies, in a statement. “We look forward to applying our expertise in drug development to this partnership and working to bring this important research from the lab to the patient.”
An inherited neurological disorder, Huntington’s disease is characterized by abnormal body movements and a lack of coordination. Cognitive abilities are also affected.
Neurobiological Technologies estimates that the disease, which is fatal and for which there is no cure, currently affects about 30,000 Americans.
At 1:03 p.m. ET, shares of Neurobiological Technologies (NTII) had gained $0.25, or 8.39%, to $3.23. The 52-week high of $5.19 was touched on Oct. 8, while the 52-week low of $2.06 was set on Nov. 6.
