UCB to make equity investment of US20m in Synosia
Switzerland-based Synosia Therapeutics has granted UCB exclusive, worldwide rights to its 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. UCB takes responsibility for Phase III clinical development and commercialisation.
Under the agreement, UCB, based in Brussels, Belgium, will make an equity investment of US$20m in Synosia.
The Basel-based company will also receive an undisclosed upfront payment and is eligible to receive regulatory and commercial milestone payments of up to US$725m across both compounds. In addition, two representatives of UCB will join Synosia’s board of directors.
The agreement also allows for additional compounds from either company’s pipeline to be brought into the collaboration on terms to be negotiated.
‘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,’ said Dr Ismail Kola, executive vice president of drug discovery and president of UCB NewMedicines.
Dr Ian Massey, ceo and president of Synosia Therapeutics, added: ‘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.’