New Agreement Boosts Pipeline for Synosia Therapeutics
- Category: More News
- Published on Wednesday, 23 May 2007 04:00
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SOUTH SAN FRANCISCO, CA, USA | May 22, 2007 | Synosia Therapeutics today announced that ithas acquired a license from Syngenta to develop a potentially novel treatment for Parkinson’sDisease.
This is the third pharmaceutical agreement to be announced for Synosia, which startedoperations at the beginning of this year to develop new treatments for disorders of the centralnervous system (CNS). The company now has a pipeline of seven compounds, with an optionon an eighth, following previous deals with Roche and Novartis.
Dr Ian Massey, Chief Executive Officer and President of Synosia Therapeutics said: “Thiscompound is a perfect fit for our strategy of using small, smart clinical trials to rapidlyestablish proof-of-concept and explore the full potential of clinically-enabled drugs.
“We already know a lot about this molecule and by applying innovative clinical designs,together with the latest imaging tools, we can quickly generate clinical information in newtherapeutic areas,“ he said.
The compound, called SYN-118, is a hydroxyphenylpyruvate dioxygenase (HPPD) inhibitor,and is already approved in the US and Europe for the treatment of hereditary tyrosinemia type1, a life-threatening metabolic disorder. The drug is marketed by Swedish OrphanInternational under the name Orfadin® (nitisinone), under license from Syngenta.
Terms of the Agreement
Under the terms of the agreement, Synosia will assume responsibility for the ongoing clinicaldevelopment and commercialisation of SYN-118 in CNS. Contingent upon progress,Syngenta will receive milestone payments and royalties upon commercialisation.
About Synosia Therapeutics
Synosia Therapeutics is a privately-owned, drug development company, focused ondeveloping new treatments for disorders of the central nervous system. Its leadership teamhas over 180 years of combined experience in drug development. Synosia has offices inBasel, Switzerland, and is headquartered in South San Francisco, CA. The company wasspun out of EuroVentures Inc., a wholly-owned incubator of Versant Ventures, and recentlychanged its name from Synosia Therapeutics.
Synosia Therapeutics has raised $32.5 million funding from Versant Ventures (Menlo Park,CA), Abingworth Management (London), 5AM Ventures (Menlo Park, CA) and Novo A/S(Copenhagen, Denmark). For more information, visit www.synosia.com
SOURCE: Synosia Therapeutics