Arena Pharma collaborates with Roivant Sciences for nelotanserin

12 May 2015

US biopharma company Arena Pharmaceuticals (Nasdaq: ARNA) has entered into a development, marketing and supply agreement with Roivant Sciences for nelotanserin, Arena's internally discovered inverse agonist of the 5-HT2A receptor.

The agreement grants Bermuda-based Roivant exclusive worldwide rights to develop and commercialize nelotanserin. Shares of Arena rose 2.65% to $4.26 in after-hours trading on Monday

Nelotanserin has been studied to date in multiple clinical trials involving over 900 subjects. Roivant intends to initiate additional Phase II clinical trials for the treatment of behavioral and neuropsychiatric disturbances, including psychoses, in patients with dementia and other neurological diseases. In addition, Roivant may pursue the development of nelotanserin for other neuropsychiatric disorders. Roivant will be responsible for funding the development and commercialization of nelotanserin.

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