Chronos acquires CNS programs from Shire, which becomes strategic investor
Chronos Therapeutics, a privately-held UK biotech focused on aging diseases, brain and central nervous system (CNS) disorders, has acquired three pre-clinical development programs from a subsidiary of Ireland-headquartered Shire (LSE: SHP).
The programs target CNS diseases and Chronos has acquired all intellectual property, know-how, development and marketing rights for each one on a worldwide basis.
Meanwhile Shire has become a strategic equity investor in Chronos and is eligible for milestone payments on regulatory approval of products relating to the programs, followed by royalties and milestone payments on sales of the products.
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