PRESS RELEASE
January 26, 2018
Saniona, a leading biotech company in the field of ion channels, today announced that Saniona and Proximagen have initiated lead optimization in their ongoing drug discovery and development collaboration.
"The initiation of lead optimization represents a significant milestone and may potentially lead to candidate selection in 2019. The partnership represents a true collaboration between two strong research teams for the potential development of innovative treatment options in neurology," said Jørgen Drejer Ph.D., CEO of Saniona.
Saniona and Proximagen entered into this drug discovery and development collaboration in the beginning of 2016. The collaboration is based on a unique Saniona ion channel program and focuses on research of new small molecule therapeutics for neurological disorders, using Saniona's expertise in ion channels and related technology platforms. Proximagen has exclusive worldwide rights to develop, manufacture and commercialise medicines identified through the collaboration.
Under the terms of the agreement, Saniona has received upfront and research funding during the research period. Furthermore, Saniona will receive milestone payments upon the achievement of certain research, development and regulatory milestones. The potential value of the milestone payments is up to US$30 million. In addition, Saniona will receive tiered royalties on net sales of any potential products commercialised by Proximagen as a result of this collaboration.
"Through this collaboration we are supporting one of our business objectives of financing a part of the company's research efforts by entering into partnership agreements. A research and development collaboration such as this, with Proximagen complements our internal proprietary product development efforts utilizing our unique ion channel platform," says Jørgen Drejer Ph.D., CEO of Saniona.
For more information, please contact
Thomas Feldthus, EVP and CFO, Saniona, Mobile: +45 2210 9957, E-mail: tf@saniona.com
This information is information that Saniona (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and Sweden's Securities Market Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on January 26, 2018.
About Saniona
Saniona is a research and development company focused on drugs for diseases of the central nervous system, autoimmune diseases, metabolic diseases and treatment of pain. The company has a significant portfolio of potential drug candidates at pre-clinical and clinical stage. The research is focused on ion channels, which makes up a unique protein class that enables and controls the passage of charged ions across cell membranes. Saniona has ongoing collaboration agreements with Boehringer Ingelheim GmbH, Proximagen Ltd., Productos Medix, S.A de S.V and Cadent Therapeutics. Saniona is based in Copenhagen, Denmark, where it has a research center of high international standard. Saniona is listed at Nasdaq Stockholm Small Cap and has about 5,300 shareholders. The company's share is traded under the ticker SANION. Read more at www.saniona.com.
About Proximagen
Proximagen and its predecessor companies have a long heritage of successful discovery and development of novel small molecule therapeutics, in particular in the areas of CNS, pain and inflammation. In the UK, Proximagen has an integrated drug discovery facility based in Cambridge, with in house capabilities in medicinal chemistry, biology and drug metabolism and pharmacokinetics. In the US, the company has a team providing drug development, project management and translational medicine expertise. Proximagen has a clinical stage collaboration with Roche in the area of inflammation. For more information, visit www.proximagen.com.
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