Date: 2012-08-31
Type of information: R&D agreement
Compound: NSD-788, NSD-721 and preclinical projects and early research projects
Company: NeuroSearch (Denmark) Anonia (Denmark) Janssen Pharmaceutica - J&J (USA)
Therapeutic area: CNS diseases
Type agreement: R&D
Action mechanism: NSD-788 is a monoamine reuptake inhibitor with a uniquely balanced effect on the brain transmitter systems. It has been evaluated in Phase I studies, and also in a PET study to evaluate the compound\'s absorption in the brain. NSD-721 is a selective GABA receptor modulator. This class of drugs have potential especially as anxiety-reducing drugs, but without the side effects known from existing drugs. Results from a Phase I study show that NSD-721 is safe and well-tolerated.
Disease: CNS diseases
Details: NeuroSearch has announced that the company has signed an assignment agreement with Janssen Pharmaceutica and Aniona regarding a transfer to Aniona of all of NeuroSearch’s rights and obligations under a research, development, and commercialization agreement between Janssen Pharmaceutica, and NeuroSearch, dated August 2009, the research term of which will expire in August 2013. The effective date of the assignment agreement is 1 September 2012.
On 16 December 2011, NeuroSearch announced that leading NeuroSearch employees had founded a new company, Aniona ApS, with the aim of establishing the basis for the continuation of the research and development activities which NeuroSearch had decided to wind down as part of the restructuring of the company. NeuroSearch holds no ownership in Aniona. Aniona ApS is focusing on the treatment of diseases of the central nervous system. The company is based on more than 20 years of research experience from NeuroSearch A/S and specifically the unique competencies which have been developed within ion channel modulation.
In addition, NeuroSearch and Aniona have signed an agreement regarding contingent transfer of the clinical projects NSD-788 and NSD-721 as well as transfer of a number of preclinical projects and early research projects. Aniona is to pay royalties, which will be stepped down over a number of years, to NeuroSearch of all future revenues from NSD-788 and NSD-721 as well as a modest one-off payment at the initiation of clinical trials with one of the preclinical or early research projects.
Financial terms: In connection with the assignment agreement, NeuroSearch will grant a loan of € 340,000 to Aniona to cover the operations of Aniona which will employ a total of 12 employees transferred from NeuroSearch. NeuroSearch is entitled to receive part of the future option payments that Aniona may receive if Janssen exercises certain options under the research agreement.
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