Sosei Heptares forms new neurological companies
Japanese biotech Sosei Heptares Group (TYO: 4565) has announced an agreement with Medicxi, a venture fund dedicated to financing asset-centric firms, to form two independent companies, Orexia and Inexia.
The companies will aim to develop new therapies based on positive modulators of the G protein-coupled receptors, Orexin OX1 and OX2, for neurological diseases. Medicxi will be investing in both start-ups with an aggregate amount of up to 40 million euros ($46 million).
Orexia and Inexia will obtain a portfolio of related patents from Sosei and have the rights to exploit a series of Orexin OX1 and OX2 positive modulators and products derived therefrom, including dual OX1/OX2 agonists, designed and developed by the Tokyo-based company, as well as access to proprietary know-how and development capabilities.
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