* Zambon’s initial investment 20 mln euros
* Deal comes after licensing agreement with Meiji for Asia
ZURICH, April 5 (Reuters) – Italian drugmaker Newron
has signed a strategic collaboration and licensing deal
for its Parkinson’s disease drug safinamide with Italian drugs
and chemicals maker Zambon which involves Zambon taking a 9.1
percent stake in Newron.
Newron said in a statement Zambon would make an initial
investment of 20 million euros ($26.2 million) to pay for the
completion of the drug’s clinical development and applications
for marketing approval in Europe and the United States.
“We are delighted that Zambon shares our confidence and
excitement in the value of safinamide for the treatment of
Parkinson’s disease,” Newron Chief Executive Luca Benatti said
in a statement.
The deal includes Zambon making an immediate equity
investment in Newron of 726,435 newly issued shares for a fully
diluted 9.1 percent shareholding. It has also committed to
increase its stake in a future share capital increase.
The deal comes after Newron said in January it was licensing
safinamide to Japan’s Meiji Holdings for countries in
Asia and expected similar deals for other parts of the world.
Newron said on Thursday the deal with Zambon gives it an
exclusive option to a licence for safinamide for all territories
of the world with the exclusion of those covered by the Meiji
deal.
The agreements are a boost for Newron after Finland’s Biotie
Therapies pulled out of a takeover of the group last
year following news it had lost a partnership deal with
Germany’s Merck KGaA for safinamide.
Newron is awaiting the results of two late-stage studies of
safinamide as an adjunctive treatment for Parkinson’s disease,
and the results are due in the first half of 2012.
Newron has said it expects that safinamide will be ready for
submission to health authorities by the end of 2012.
($1 = 0.7623 euros)
(Reporting by Emma Thomasson; Editing by Mark Potter)
