Egg Farmers of Ontario Invests $1M into Egg-Derived Depression Solution

Mar. 26, 2013 – Egg Farmers of Ontario (EFO) announced at it’s annual general meeting today that the organization will release $1 million in research funding to United Paragon Associates (UPA), the company heading clinical trials of a new antidepressant drug derived from eggs.

Named Rellidep(TM) after Ron Ellis, NHL legend and long-time champion in the fight against mental illness and also the Vice President of Public Relations at UPA, the drug is being developed as a treatment for depression. Early studies in patients indicate that it may be more effective, have shorter time-to-clinical-benefit and be better tolerated than currently available antidepressants. A better treatment could change the lives of individuals suffering from depression.

“Despite recent advances in treatment, there continues to be great unmet need specific to three key areas in the fight against major depressive disorder.  Early phase trials with Rellidep(TM) have demonstrated tremendous promise, as it may offer improvements over currently available drug treatments,” said George Yeung, UPA’s President of Research and Development.

According to published studies, the economic cost of lost productivity in Ontario due to depression, as measured by short-term and long-term disability days, is estimated to have been $8.8 billion in 2000. Direct costs due to depression are estimated to have been over $2 billion in Ontario in 2008.

UPA, an Ontario-based, privately-held pharmaceutical developer is in the process of raising additional financing to continue the research and development of Rellidep(TM). The goal is that it can eventually be made available to patients in an effort to alleviate the on-going suffering, associated with depression, which exists in society.

Because the active ingredient is eggs, there are also significant implications for the production and marketing of eggs in Ontario, said EFO Chair, Scott Graham.  The letter of intent for EFO funding that will partially fund Phase Two clinical trials was formally announced at the EFO annual general meeting, with member farmers, industry and media in attendance.