Biovitrum, Proximagen deal
The companies signed a letter of intent for Biovitrum to sell its Cambridge Biotechnology Ltd. subsidiary to Proximagen in exchange for an undisclosed percentage of future revenues generated by the subsidiary. Cambridge's pipeline includes a portfolio of serotonin (5-HT2C) receptor agonists and serotonin (5-HT6) receptor antagonists, including BVT.74316, which completed a Phase I trial to treat obesity, and preclinical programs targeting Vascular adhesion protein-1 (VAP-1, SSAO) and neurotrophic tyrosine kinase receptor 1 ( NTRK1, TrkA). Proximagen said the deal fits its CNS focus, but has not disclosed plans for the pipeline.
The deal does not include Cambridge's lead program BVT.115959. Biovitrum will seek another partner for the adenosine A2A receptor agonist, which missed the primary endpoint in a Phase II trial to treat neuropathic pain. ...