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UCB SA And Synosia Therapeutics Sign Parkinson's Disease Alliance Worth $745 Million Potentially
10/12/2010 6:53:05 AM
BRUSSELS & BASEL, Switzerland--(BUSINESS WIRE)--regulated information – UCB and Synosia Therapeutics announced today a new strategic partnership in neurology. Synosia has granted UCB a license for exclusive, worldwide rights to the development compound SYN-115 and rights to a second compound, SYN-118, for non-orphan indications. Both are in Phase II clinical development for the treatment of Parkinson’s disease.
“With access to these two potentially important new treatments for people living with movement disorders, UCB reinforces its intention to become the patient-centric biopharmaceutical leader in neurology and immunology.”
Under the agreement, UCB will make an equity investment totalling USD 20 million as part of a Series C funding in Synosia. Synosia will also receive an undisclosed upfront payment and could receive potential regulatory and commercial milestone payments of up to a total of USD 725 million across both compounds. Reflecting the strategic nature of the alliance, two representatives of UCB will join Synosia’s Board of Directors.
“We are impressed with Synosia’s development capabilities and the possibility of expanding our alliance in the future,” said Dr Ismail Kola, Executive Vice President of Drug Discovery and President of UCB NewMedicines. “With access to these two potentially important new treatments for people living with movement disorders, UCB reinforces its intention to become the patient-centric biopharmaceutical leader in neurology and immunology.”
“UCB is an ideal partner for us given their global capabilities and presence in the field of neurology and their demonstrated ability to form innovative and effective partnerships,” said Dr Ian Massey, Chief Executive Officer and President of Synosia Therapeutics. “Given the novel mechanisms and encouraging results for SYN-115 and SYN-118, as well as the financial structure of our agreement with UCB, this partnership has the potential to be a big value driver for Synosia while providing valuable new therapies for patients with movement disorders.”
About the partnership
Synosia will be responsible for SYN-115 and SYN-118 through Phase II clinical development. UCB will be responsible for Phase III clinical development and commercialisation.
The agreement also allows for additional compounds from either company’s pipeline to be brought into the collaboration on terms to be negotiated. As with SYN-115 and SYN-118, Synosia will be responsible for the development of any additional molecules up to the end of Phase II. UCB will be responsible for subsequent development and commercialisation.
About the compounds
SYN115 is an orally-bioavailable adenosine 2A (A2a) antagonist, which enters the brain and activates regions with motor and non-motor function. Synosia obtained rights to SYN-115 from Roche (SIX: RO, ROG; OTCQX: RHHBY) in 2007 and has rights to development in all indications.
SYN 118 is a 4 hydroxyphenyl-pyruvate dioxygenase inhibitor, which is marketed as Orfadin® in the non-competing indication of hereditary tyrosinemia by Swedish Orphan.
Synosia obtained rights from Syngenta for the clinical development and commercialisation of SYN-118 in all non-orphan indications.
Notes to the editor
UCB, Brussels, Belgium (www.ucb.com) is a global biopharmaceutical company focused on the discovery and development of innovative medicines and solutions to transform the lives of people living with severe diseases of the immune system or of the central nervous system. With more than 8 000 people in about 40 countries, the company generated revenue of EUR 3.1 billion in 2009. UCB islisted on Euronext Brussels (symbol: UCB).
This press release contains forward-looking statements based on current plans, estimates and beliefs of management. Such statements are subject to risks and uncertainties that may cause actual results to be materially different from those that may be implied by such forward-looking statements contained in this press release. Important factors that could result in such differences include: changes in general economic, business and competitive conditions, effects of future judicial decisions, changes in regulation, exchange rate fluctuations and hiring and retention of its employees.
Synosia Therapeutics is a privately owned company, which develops and intends to commercialise innovative, first or best-in-class products for unmet medical needs in neurology and psychiatry. Synosia utilises cutting-edge technologies and creative clinical study designs to de-risk its compounds before moving into larger, more extensive Phase II and Phase III programmes.
Synosia has six clinical-stage compounds in its pipeline for neurological and psychiatric diseases with high unmet medical need, including Parkinson’s and Alzheimer’s disease. Synosia is headquartered in Basel, Switzerland. For more information visit www.synosia.com
This communication, and oral statements made with respect to information contained in this communication, expressly or implicitly contains certain forward-looking statements concerning Synosia Therapeutics and its business. Such forward-looking statements include those which express plans, anticipation, intent, contingency, goals, targets or future development and/or otherwise are not statements of historical fact including, but not limited to our plans for our regulatory filings, enrolment and future plans for our clinical trials, progress of and reports of results from clinical studies, clinical development plans and product development activities. The words “potential”, “could” and similar expressions also identify forward-looking statements. These statements are based upon management's current expectations and are subject to risks and uncertainties, known and unknown, which could cause actual results and developments to differ materially from those expressed or implied in such statements. Factors that could affect actual results include risks associated with the possibility that the respective regulatory agencies refuse approval of our applications, the outcome of any discussions with such regulatory agencies and unexpected delays in preparation of materials for submission to such respective regulatory agencies as a part of our filings.
Synosia Therapeutics is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise. Actual events could differ materially from those anticipated in the forward-looking statements.