GeNeuro falls after Servier hands back MS drug rights
France’s Servier has returned the global (ex-US and Japan) rights to GNbAC1 to Switzerland’s GeNeuro (EPA: GNRO).
Shares in GeNeuro, which is developing the lead compound as a multiple sclerosis treatment, fell by more than 15% following the announcement.
Servier gained an option on the candidate in 2014 for 37.5 million euros ($43 million), but declined to exercise its right, “based on R&D strategic reasons and international development priorities.” The firm says it will continue supporting GeNeuro as a shareholder.
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