Synosia and Novartis sign rufinamide deal

California, USA-based Synosia Therapeutics, a privately-owned drug development company, has signed an exclusive worldwide licensing agreement with Swiss drug major Novartis AG to develop and commercialize the latter's drug rufinamide, the active component of the currently-marketed product Inovelon, for the treatment of anxiety and bipolar mood disorders.

The deal, which does not cover Japan where the product is licensed to Eisai under a 2004 agreement (Marketletters passim), is the second that the San Francisco-headquartered firm, formerly known as Synosis, has established, following its accord with another Swiss drug major, Roche, announced earlier this year (Marketletter January 15).

Synosia president Ian Massey said that rufinamide is a good fit for the company's innovative development platform, and that it would focus on examining the drug's potential in central nervous system disorders. He added that the firm has recently raised $32.5 million in a funding round, which it would use to finance clinical trials.