CeNeS strengthens its CNS pipeline by buying TheraSci
UK biopharmaceutical company CeNeS Pharmaceuticals has agreed to acquire biotechnology company TheraSci, of Cambridge in the UK, for up to
UK biopharmaceutical company CeNeS Pharmaceuticals has agreed to acquire biotechnology company TheraSci, of Cambridge in the UK, for up to £3.7m (Euro 5.3m).
TheraSci has discovery and development programmes focused on the development of drugs for the treatment of Parkinson's disease, substance abuse and sleep disorders.
Included in the assets of TheraSci is a simultaneous transaction under which GlaxoSmithKline has assigned to TheraSci all rights to its programme developing novel short-acting sedatives for the use in day case procedures. The programme includes a lead compound in pre-clinical development and CeNeS believes that clinical proof of concept may be achieved within 24 months.
'TheraSci's business model, reduced risk discovery and development strategies and management expertise are a perfect fit with CeNeS' virtual business model and late stage CNS clinical development focus,' said CeNeS chief operating officer and finance director Neil Clark. 'The GSK sedative programme is particularly interesting. Being based on excellent science and clinically validated mechanisms, it offers a lower-risk route into the rapidly growing short surgical and non-surgical procedures market.'