| Newron Market Update |
| 17.11.11 07:24 | |
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Milan, Italy, November 17, 2011 - Newron Pharmaceuticals S.p.A. (“Newron”), a research and development company focused on novel CNS and pain therapies, provides the following update: Following the announcement of Newron regaining the global commercial rights to safinamide from Merck Serono, a division of Merck KGaA, Darmstadt, Germany, the company has received unsolicited approaches from a number of pharmaceutical and biopharmaceutical companies regarding licensing the compound and/or entering into discussions which could lead to an M&A transaction. Newron and its advisor JSB Partners have since initiated a formal process enabling potential parties to undertake a confidential review of the available information. Luca Benatti, Newron’s CEO stated: “We are very pleased with the interest expressed by a significant number of companies since we regained ownership of safinamide. We have begun the process of taking on full responsibility for safinamide from Merck Serono, effective April 2012. Given that the design of the ongoing MOTION and SETTLE phase III trials, for which patient enrolment is complete, substantially reflects the design of previously successful phase III trials, we are confident of their outcome and look forward to reporting these in the first half of 2012. The registration dossier is largely complete, which is of great value for Newron and any new partner and we estimate that it will be ready for submission to health authorities in key world markets by the end of 2012. On this basis, we are confident of closing a deal for safinamide in the near future with the clear goal of rebuilding value for our shareholders.” About safinamide Safinamide is an alpha-aminoamide that is in late phase III worldwide development as an add-on therapy to dopamine agonists or levodopa in patients with early or late stage Parkinson’s disease. It is believed to have both dopaminergic and non-dopaminergic activities, including selective and reversible inhibition of monoamine oxidase B (MAO-B), activity dependent sodium channel antagonism and inhibition of glutamate release in vitro. About Newron Pharmaceuticals Newron Pharmaceuticals S.p.A. (www.newron.com) is a biopharmaceutical company focused on novel therapies for diseases of the Central Nervous System and pain. Phase III trials of safinamide are currently ongoing for the treatment of Parkinson’s disease (PD). Newron is currently evaluating the further clinical development of ralfinamide for pain and psychiatric diseases. Newron’s additional projects are at various stages of preclinical and clinical development, including HF0220 for neuroprotection, NW-3509 for the treatment of schizophrenia, as well as pruvanserin and sarizotan for treatment of CNS diseases. Newron is headquartered in Bresso, near Milan, Italy. The company is listed at SIX Swiss Exchange, trading symbol NWRN. |
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