Press RELEASE
4 July 2017
Saniona, a leading biotech company within ion channels, today announced that the company has acquired NeuroSearchs the remaining interests in the pre-clinical and clinical assets that Saniona has acquired from NeuroSearch for the period 2012-2016. With full respect for the NeuroSearchs the remaining interest in the acquired programs pay Saniona NeuroSearch a cash payment of 5.5 MILLION. The agreement allows all of the obligations ceases for Saniona against NeuroSearch.
“We are increasing the upside on some of our most valuable and mature assets, including tesofensine, Tesomet and NS2359, at the same time as we are simplifying our contract and payment obligations”, says Jørgen Drejer, CEO of Saniona.
Under the agreement, Saniona to pay NeuroSearch a cash payment of 5.5 MILLION. Then will Saniona not have any further payment obligations towards NeuroSearch.
In August 2012, the group acquired Saniona NeuroSearchs technology platform, including patents and data in respect of 15 pre-clinical and clinical programs. In October 2014, acquired Saniona the rights to the NeuroSearchs clinical development candidates emerging, tesofensine and NS2359. In may 2016, the acquired Saniona the rights to the NeuroSearchs remaining product portfolio including the clinical utvecklingssubstanserna, ACR325 and ACR343.
According to these agreements was Saniona required to pay NeuroSearch a eur 400 000, when the first pre-clinical program was tested in humans. In addition, each Saniona required to pay royalties on its product sales or a percentage of their licensintäkt in relation to the acquired clinical assets, including the clinical utvecklingssubstanserna, tesofensine and NS2359. Payments to NeuroSearch varied between the different clinical drug candidates, but the commitment was usually 3-4% on the Sanionas own sales and up to 20 per cent of the Sanionas license revenue.
There is no change in the Sanionas responsibility to cover the royalties to the third party on the potential sales of Sanionas products, including its payment obligations on a royalty basis, to Boehringer Ingelheim on tesofensine and GlaxoSmithKline on NS2359, which is in the range of 2-4 per cent on the sales of the two products.
For more information, please contact:
Thomas Feldthus, executive vice president and CFO, Saniona. Mobile: +45 2210 9957, E-mail: tf@saniona.com
This information is such information that Saniona AB (publ) is obliged to publish under the EU marknadsmissbruksförordning. The information was submitted, by the above contact person in the government, for publication on 4 July 2017, there is a 18:00 CET.
About Saniona
Saniona is a research and development company focused on drugs for diseases of the central nervous system, autoimmune diseases, metabolic diseases and pain management. The company has an extensive portfolio of potential drug candidates in preclinical or clinical phase. The research is focused on the ion channels that constitute a unique class that allows for and controls the passage of ions in cell membranes. The company has partnered with Boehringer Ingelheim GmbH, Proximagen Ltd., Productos the medix, S. A de S. V and Luc Therapeutics, Inc. Saniona is based in Copenhagen where the company has a forskningssite of high international class. Saniona is listed on Nasdaq Stockholm Small Cap, and has approximately 5,000 shareholders. The share is traded under the ticker SANION. Read more on
www.saniona.com
.
20170704 – PR – NS Buyout – ENG
