Orexo gains US rights to deprexis, a digital therapy to help manage depression symptoms

Swedish drug developer Orexo (STO: ORX) saw its shares jump 13% to 79.00 Swedish kronor by early afternoon, after it revealed the acquisition of exclusive US rights to Germany-based GAIA´s deprexis, a digital therapy to help patients manage their symptoms of depression and one of the most researched digital therapies in the world.

Today’s announcement follows two earlier agreements with GAIA where Orexo acquired the exclusive US commercial rights to vorvida, which has been scientifically proven to reduce risky drinking patterns in adults with alcohol use disorder (AUD), and also the exclusive global commercial rights to OXD01, a new digital therapy being developed for the treatment of opioid use disorder (OUD).

The need for digital therapies due to the COVID-19 crisis is unprecedented, the company noted. The COVID-19 crisis and the actions taken to control the pandemic is expected to result in a significant rise in mental illness such as depression and substance abuse.