Orion to refocus its R&D on cancer and pain

Finnish drugmaker Orion Corp’s (Nasdaq OMX: ORNAV) shares edged up 2% this morning, after it said that its R&D function is planning to refocus efforts on the development of new proprietary products from several therapy areas to two, cancer diseases and pain. Cancer diseases have long been one of the three core therapy areas of Orion’s pharmaceutical research, and the company has announced success in many research projects in recent years.

Nubeqa (darolutamide), a cancer therapy developed by Orion, is at the global launch stage in which Orion is collaborating with Germany’s Bayer (BAYN: DE), and the positive results of the ARASENS study strengthen expectations for success. ODM-208 is another molecule developed by Orion for the treatment of prostate cancer that has also made positive progress in clinical studies.

For many years, Orion has also conducted R&D projects associated with pain management in the therapy area of neurological diseases. Pain is one of the most common reasons for seeking medical attention and is a significant burden on society because it drains healthcare resources and results in productivity losses. Hence there is great demand for new effective and safe treatment alternatives that do not cause dependence. At the present, many Orion’s late-stage discovery projects deal with pain. Orion is also currently seeking a partner to assist in the further development and commercialisation of a software solution for digital therapy for the treatment of chronic pain.