Cypress Bioscience has made the first step in building its productportfolio by acquiring exclusive US and Canadian rights to milnacipran for fibromyalgia syndrome from bioMerieux-Pierre Fabre of France. The firm believes milnacipran may be a viable treatment for fibromyalgia due to its dual action of affecting serotonin and noradrenaline and expects to begin clinical trials of the drug, which is already licensed for depression, early next year. Under the terms of the agreement, Cypress will pay Pierre Fabre an upfront payment, as well as additional payments based on meeting certain clinical and regulatory milestones and eventual royalties. Shares of Cypress rose 14.3% to close at $2.88 on August 1.
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