UCB, Synosia Therapeutics announce new strategic partnership in neurology

Oct 12 2010

UCB and Synosia Therapeutics announced today a new strategic partnership in neurology. Synosia has granted UCB a license for exclusive, worldwide rights to the development compound SYN-115 and rights to a second compound, SYN-118, for non-orphan indications. Both are in Phase II clinical development for the treatment of Parkinson's disease.

“With access to these two potentially important new treatments for people living with movement disorders, UCB reinforces its intention to become the patient-centric biopharmaceutical leader in neurology and immunology.”

Under the agreement, UCB will make an equity investment totalling USD 20 million as part of a Series C funding in Synosia. Synosia will also receive an undisclosed upfront payment and could receive potential regulatory and commercial milestone payments of up to a total of USD 725 million across both compounds. Reflecting the strategic nature of the alliance, two representatives of UCB will join Synosia's Board of Directors.

"We are impressed with Synosia's development capabilities and the possibility of expanding our alliance in the future," said Dr Ismail Kola, Executive Vice President of Drug Discovery and President of UCB NewMedicines. "With access to these two potentially important new treatments for people living with movement disorders, UCB reinforces its intention to become the patient-centric biopharmaceutical leader in neurology and immunology."

"UCB is an ideal partner for us given their global capabilities and presence in the field of neurology and their demonstrated ability to form innovative and effective partnerships," said Dr Ian Massey, Chief Executive Officer and President of Synosia Therapeutics. "Given the novel mechanisms and encouraging results for SYN-115 and SYN-118, as well as the financial structure of our agreement with UCB, this partnership has the potential to be a big value driver for Synosia while providing valuable new therapies for patients with movement disorders."