Ossianix, Lundbeck deal

Ossianix said it partnered with H. Lundbeck to discover therapeutics for CNS diseases. Ossianix raised an undisclosed amount from a convertible promissory note from Lundbeck, which will retain exclusive rights to negotiate a license on resulting products. Lundbeck also will have non-exclusive rights to negotiate a license on technologies arising from the deal. A research committee with representatives from both companies will have oversight of products developed under the deal. Ossianix will use its shark variable new antigen receptor (VNAR) technology to discover therapeutics to treat nervous system diseases including Alzheimer's disease (AD), Parkinson's disease (PD) and pain. ...