Lundbeck invests in Ossianix; debuts Onfi in USA

Privately-held US company Ossianix announced a strategic investment by Danish CNS drug specialist Lundbeck A/S (LUND: DC) in the form of a Convertible Promissory Note. The proceeds from Lundbeck’s investment, the amount of which is not specified, is expected to allow Ossianix to generate biopharmaceuticals for the treatment of nervous system disorders by utilizing the US firm’s proprietary single domain antibody platform modeled on the shark vNAR structure.

This will potentially give access to the development of novel differentiated CNS products. Lundbeck will retain the right to negotiate for certain products and technologies arising from the research at Ossianix. Peter Hongaard Andersen, head of research at the Danish drugmaker, who will join the board of the US firm, said that Lundbeck wishes to develop its biologics portfolio further.

“Lundbeck is a recognized leader in producing drugs for neurological and psychiatric disorders. We are very pleased that Lundbeck via this investment has chosen to further extend their involvement in the emerging field of biotherapeutics for CNS disorders,” said Frank Walsh, chief executive of Philadelphia-based Ossianix.