Terran Biosciences announces acquisition of a portfolio of novel CNS therapeutics from Concert Pharmaceuticals
NEW YORK, March 11, 2022 /PRNewswire/ -- Terran Biosciences ("Terran"), a biotech platform company dedicated to the development of transformational therapeutics for neurological and psychiatric diseases, has entered into an agreement with Concert Pharmaceuticals ("Concert") to acquire a portfolio of Concert's CNS therapeutics and accompanying intellectual property.
These deuterated compounds represent next-generation therapeutics with applications across several different psychiatric and neurological conditions. Terran plans to quickly accelerate the development of these compounds as important complements to a growing pipeline of both early-stage and late-stage therapeutics and technologies in the CNS space.
"It is Terran's goal to become an industry leader in neuropsychiatry by providing a suite of solutions for patients suffering from these diseases, which have not had many, if any, therapeutic options historically. With this acquisition from Concert, we get even closer to our goal," stated Dr. Sam Clark, Chief Executive Officer at Terran.
These new chemical entities are covered by composition of matter patent applications. Financial terms of the deal were not disclosed.
About Terran Biosciences, Inc.
Terran is a biotech platform company developing a portfolio of therapeutics and technologies for patients with neurological and psychiatric diseases. Backed by a number of life-science and tech investors, Terran has built a CNS-focused, tech-enabled drug development platform, and is rapidly advancing of number of late-stage assets, which include novel psychedelic-based therapeutics.
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SOURCE Terran Biosciences, Inc.