AstronauTx exercises option on Saniona-partnered Alzheimer's candidate
Danish-based, Swedish-listed biotech Saniona (OMX: SANION) said today that its UK partner AstronauTx has exercised an option to take exclusive worldwide rights to compounds emerging from the pair's ion channel collaboration, handing Saniona equity worth $5 million and keeping alive a milestone package of up to $172 million.
The option covers rights to research, develop, manufacture and commercialize any therapeutic candidates arising from the partnership, which the two companies signed in July 2023. As consideration, London-based AstronauTx will issue series A shares to Saniona worth $5 million, priced on the same terms as its October 2023 financing round.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
More on this story...
Today's issue
Company Spotlight
More Features in Pharmaceutical
| Headless Content Management with Blaze