Zambon exercises option for Newron's safinamide

Zambon Co. S.p.A. (Bresso, Italy) exercised its option from Newron Pharmaceuticals S.p.A. (SIX:NWRN) to license exclusive rights to develop and commercialize Parkinson's disease therapy safinamide worldwide, excluding Asian territories where Meiji Seika Pharma Co. Ltd. (Tokyo, Japan) has rights. Newron said on Monday that the product showed "substantial evidence" of efficacy in two Phase III trials in both early and advanced PD patients, but did not disclose detailed data. The company said full data would be presented at upcoming scientific meetings. Worldwide regulatory submissions are slated for next year.

Last month, Zambon paid EUR 5 million ($6.3 million) for the option and a 9.1% stake in Newron. Newron will receive an additional EUR 5 million exercise fee and is eligible for milestones and double-digit royalties. Zambon will cover all development and regulatory costs for safinamide. Zambon will be eligible for one seat on Newron's board. ...