Newron, Zambon deal
Zambon exercised its option to license exclusive rights to develop and commercialize Newron's safinamide worldwide, excluding Asian territories where Meiji Seika Pharma Co. Ltd. (Tokyo, Japan) has rights. Last month, Zambon paid €5 million ($6.4 million) for the option and a 9.1% stake in Newron. Newron will receive an additional €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 (see BioCentury, Jan. 9 & April 9).
Safinamide is in Phase III testing for Parkinson's disease (PD), with worldwide regulatory submissions slated for next year. The product is an alpha-aminoamide derivative that acts as a reversible monoamine oxidase B (MAO-B) and dopamine reuptake inhibitor. ...