Date: 2016-07-20
Type of information: Product acquisition
Compound: three pre-clinical development programmes targeting Central Nervous System (CNS) diseases
Company: Shire (UK - USA) Chronos Therapeutics (UK)
Therapeutic area: CNS diseases - Neurological diseases - Neurodegenerative diseases
Type agreement: product acquisition
Action mechanism:
Disease: diseases including multiple sclerosis, addictive behaviours and potentially post-traumatic stress disorder
Details: * On July 20, 2016, Chronos Therapeutics, a UK private biotech company focused on ageing diseases, brain and nervous system disorders, announced the acquisition of three pre-clinical development programmes targeting Central Nervous System (CNS) diseases from a subsidiary of Shire. Chronos has acquired all intellectual property, know-how, development and marketing rights for each programme on a worldwide basis. Shire has a right of first negotiation for each of the programmes on commercial terms, as well as rights to re-acquire each of the programmes in the event that Chronos does not invest specified minimum amounts.
The programmes target fatigue in multiple sclerosis, addictive behaviours and potentially post-traumatic stress disorder and may have potential beyond the initial target indications. The transaction expands Chronos' pipeline significantly and complements the Company's existing programme in the fatal motor neurone disease Amyotrophic Lateral Sclerosis (ALS). Its lead compound, RDC5, is currently in Phase 1.
Financial terms: Shire becomes a strategic equity investor in Chronos and is eligible for milestone payments on regulatory approval of products relating to the programmes, followed by royalties and milestone payments on sales of the products.
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