WisBusiness: AviMed investigates repurposing a drug develop schizophrenia treatment

By Mandy Boontanrart

For WisBusiness.com

Scientists at AviMed Pharmaceuticals are investigating whether a drug developed for a different disease can become a new treatment for schizophrenia. Research of this drug has shown fewer side effects and would treat symptoms that current medication for schizophrenia fails to target.

“There are many anti-psychotic drugs, but they suffer from too many side effects. They do not treat some major and important symptoms such as cognitive and social interactive problems,” said Behnam Ghasemzadeh, president and chief scientific officer of the New Berlin-based AviMed.

“Schizophrenia affects 1 percent of the population, 2 million people, and current drugs have so many side effects that 70 to 80 percent stop taking the drugs after 18 months,” added Daniel Sem, the company’s CEO and vice president of drug development.

Current medications target hallucinations and hearing voices, referred to as positive symptoms. However, it is the negative symptoms such as anti-social behavior and social withdrawal that can be more debilitating to schizophrenics. There no effective current medication for them, according to Sem.

Ghasemzadeh and his research team are investigating a novel brain mechanism related to the cognitive and social problems relevant to schizophrenia. During the course of his work, he noted that an existing compound, AV115, is effective in targeting this brain mechanism.

“AviMed got really lucky. Rather than going around identifying or synthesizing new compounds, we recognized that there is already a drug that can do these pharmaceutical effects on the target,” said Ghasemzadeh. “We found a product already going through clinical trials and so we could be assured there was no side-effect or neurotoxicity or metabolic problems”

AV115 was discovered by another pharmaceutical company for the purpose of treating a different disease. When it was found ineffective for that disease, the company decided to no longer pursue it.

AV115 is therefore considered an “Advanced Preclinical Candidate.” It has already been researched for clinical data and safety by the pharmaceutical company that created it. AviMed Pharmaceuticals is now repurposing this drug.

“Repurposing drugs has become very popular in the last five years. Nowadays, venture capitalists aren’t willing to put in $15 million to develop a new drug. Repurposing is a way for investors to get an exit,” said Sem, who has experience as a venture capitalist and has invested his own money into AviMed.

Repurposing a current drug is much cheaper and therefore requires less venture capital funds and allows an easier exit strategy if investors decides to get out of the investment.

AviMed is seeking about $3 million dollars to perform preclinical studies on AV115 for their Investigational New Drug Application for the FDA. They are performing the research in collaboration with Marquette University and Concordia University. Concordia, in Mequon, has a new school of pharmacy and AviMed will use its facilities and expertise in pushing this drug through tests.

“AviMed Pharmaceuticals is a biotechnology company that focuses on the development of novel drugs for diseases that have a high unmet need,” Ghasemzadeh said.

The company was established in 2009. AviMed board members have extensive experience with repurposing drugs. AviMed has six patents related to developing drugs for other central nervous system diseases.

— Boontanrart is a student in the UW-Madison Department of Life Sciences Communication.