Chronos, Shire in deal for preclinical CNS programs

Chronos Therapeutics Ltd. (Oxford, U.K.) acquired from Shire plc (LSE:SHP; NASDAQ:SHPG) three preclinical programs focused on fatigue in multiple sclerosis, addictive behaviors and post-traumatic stress disorder.

Shire received equity in Chronos, and is eligible for regulatory and sales milestones, plus royalties. Chronos will have global development and marketing rights. Shire will have a right of first negotiation for each program, as well as rights to reacquire programs if Chronos does not support the programs with a specified minimum investment. ...