Newron updates on deal Meiji Seika Pharma deal; Almirall out-licenses in Korea

Italy's Newron Pharmaceuticals (SIX: NWRN) yesterday said it has finalized a definitive license agreement with Japan's Meiji Seika Pharma, a subsidiary of the Meiji Holdings, covering the research, development, manufacturing and marketing of its Parkinson's disease safinamide in Japan and key Asian territories, which was originally reported last month (The Pharma Letter January 6).

The transaction follows a binding agreement on principal terms and conditions as announced last month (The Pharma Letter January 6), and will become effective upon the return of the global rights to safinamide, still in Phase III development, from Merck Serono, the biopharmaceuticals division of Germany's Merck KGaA (MRK: DE) to Newron by April 17, 2012.

Under the agreement, Newron has received an upfront payment of 5 million euros ($6.6 million). Other financial terms of the agreement are not disclosed. Newron says it is in ongoing talks for the licensing of safinamide rights in other territories and anticipates further news on this in due course.