London-based biotech Autifony has signed a £2.75m ($4.25m) collaboration deal with the universities of Newcastle and Manchester to develop treatments for schizophrenia.

The bulk of the funding comes from a £1.9m award made to Autifony and the universities by UK innovation agency the Technology Strategy Board.

As part of the collaboration, Autifony will provide its Kv3 potassium channel modulators which the firm currently uses in the treatment of hearing loss and tinnitus, which will be re-developed to treat schizophrenia. The…

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