UCB takes stake in Synosia and buys rights to Ph II Parkinson's compounds for a potential $725 million

13 October 2010

In what is clearly a boost to the developmental stage Swiss firm, Belgian drugmaker UCB (UCB: BB) is making an equity investment of $20 million in Basel-based Synosia Therapeutic as part of a Series C funding in Synosia.

Moreover, under a new strategic partnership in neurology, Synosia has granted UCB a license for exclusive, worldwide rights to the development compound SYN-115 and rights to a second compound, SYN-118, for non-orphan indications. Both are in Phase II clinical development for the treatment of Parkinson’s disease.

As a result, Synosia will also receive an undisclosed upfront payment and could receive potential regulatory and commercial milestones totalling as much as $725 million across both compounds. Reflecting the strategic nature of the alliance, two representatives of UCB will join Synosia’s board of Directors.
Under the deal with the Belgian firm, Synosia will be responsible for SYN-115 and SYN-118 through Phase II clinical development and UCB for Phase III clinical development and commercialization.

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