Newron Pharma plans Swiss IPO

Milan, Italy-based Newron Pharmaceuticals says that it plans to raise new funds through an Initial Public Offering on the SWX Swiss Exchange within the next few weeks. Further details were not revealed.

Newron has developed a late-stage product pipeline with its lead compounds, safinamide for Parkinson's disease, currently in Phase III trials, and ralfinamide for neuropathic and inflammatory pain, in Phase II studies for neuropathic pain. In September, Newron signed an exclusive global collaboration and licence deal with Swiss group Serono (which is being acquired by Germany's Merck KGaA; Marketletter September 25) for the development, manufacture and commercialization of safinamide in PD and Alzheimer's diseases, other cognitive disorders and Restless Legs Syndrome. Based on defined achievements, Serono has agreed to make milestone payments to Newron which, together with an upfront payment already made, would total up to $200.0 million. To date, Newron has raised 62.2 million euros ($79.7 million) from various life science investors.