Newron says it has received interest in safinamide, rejected by Merck Serono

Following the announcement of Switzerland-based Newron Pharmaceuticals (SIX: NWRN) regaining the global commercial rights to safinamide from Merck Serono, a division of Germany’s Merck KGaA (MRK: DE: The Pharma Letter October 24), the company says it has received unsolicited approaches from a number of pharmaceutical and biopharmaceutical companies regarding licensing the compound and/or entering into discussions which could lead to an M&A transaction.

Cancellation of the accord with Merck also led to the termination of takeover talks by Finland’s Biotie (TPL October 28). Newron and its advisor JSB Partners have since initiated a formal process enabling potential parties to undertake a confidential review of the available information on safinamide, intended for the treatment of Parkinson’s disease.

Luca Benatti, Newron’s chief executive, stated: “We are very pleased with the interest expressed by a significant number of companies since we regained ownership of safinamide. We have begun the process of taking on full responsibility for safinamide from Merck Serono, effective April 2012. Given that the design of the ongoing MOTION and SETTLE Phase III trials, for which patient enrolment is complete, substantially reflects the design of previously successful Phase III trials, we are confident of their outcome and look forward to reporting these in the first half of 2012. “