Saniona signs option agreement with Initiator Pharma
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- Published on Thursday, 08 November 2018 10:24
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November 8, 2018 I Saniona, a leading biotech company within ion-channel research, today announced that it has entered into a 1-year option agreement with Initiator Pharma A/S, where Initiator Pharma obtains the right to acquire the AN788 program under certain conditions.
“Saniona acquired AN788 from NeuroSearch in 2012. The compound was at that time positioned for development in anxiety and depression disorders, which is outside Saniona’s current strategic focus. AN788 was developed on the same technology platform as Initiator Pharma’s other three preclinical and clinical assets and the program seems to fit well with Initiator Pharma’s pipeline and plans. We are looking forward to follow the progress of this clinical candidate,” commented Jørgen Drejer, CEO of Saniona.
The agreement between Initiator Pharma and Saniona involves no upfront and milestone payments. Saniona may receive up to 20 percent of future payments to Initiator Pharma in relation to AN788 and single digit royalties on products sales.
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This information is such information as Saniona AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:30 a.m. CET on November 8, 2018.
Saniona is a research and development company focused on drugs for diseases of the central nervous system, autoimmune diseases, metabolic diseases and treatment of pain. The company has four programs in clinical development. Saniona intends to develop and commercialize treatments for orphan indications such as Prader-Willi syndrome on its own. The research is focused on ion channels and the company has a broad portfolio of research programs. Saniona has partnerships with Boehringer Ingelheim GmbH, Productos Medix, S.A de S.V and Cadent Therapeutics. Saniona’s research center is based in Copenhagen, Denmark, and the company’s shares are listed at Nasdaq Stockholm Small Cap (OMX: SANION). Read more at www.saniona.com.
About Initiator Pharma
Initiator Pharma is a Biotech company established in Aarhus, Denmark. Its main asset IPED2015 represents a novel treatment paradigm for the treatment of Erectile Dysfunction (ED) and will improve the quality of life for the growing number for patients (and their partners) that do not respond or cannot be treated with the current marketed medication.