UCB pulls out of Biotie partnership on SYN118

Finland-based Biotie Therapies (Nasdaq-OMX: BTH1V) says that, as it had already expected following disappointing clinical trial results, Belgian drugmaker UCB (Euronext Brussels: UCB) has confirmed that it does not intend to exercise its option to license its hydroxyphenylpyruvate dioxygenase (HPPD) inhibitor SYN118, under development for the treatment of Parkinson’s disease.

Results presented earlier this year from an exploratory Phase IIa study of SYN118 did not show a significant improvement in measures of PD motor function when compared to placebo.

SYN118 has been subject to an option agreement with UCB as part of a broader partnership for the development of new treatments for neurological disorders. At the time of the original data announcement, Biotie indicated that it did not expect UCB to exercise its option to license the compound based on the results generated in the Phase IIa study, a decision confirmed this week. Biotie has already fully impaired the carrying value of this asset due to the unlikelihood of UCB exercising their option.