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Newron Pharmaceuticals SpA
Drug Names(s): Oligotropin, subeparin, heparin-derived oligosaccharide-C3
Description: HF0420 is a very-low-molecular-weight glycosaminoglycan (GAG) derived from heparin.
Pre-clinical evidence from the originators of the drug found that GAGs can inhibit the formation of beta-amyloid (the molecules forming the plaques associated with Alzheimer's Disease) and stimulate neuronal growth, possibly through the actions of nerve growth factor.
Deal Structure: The drug was initially developed by researchers at Loyala University and the head of Corcon Pharmaceuticals in Italy. It was licensed to Hunter-Fleming, which was acquired by Newron in Febuary 2008.
In October 2009, Newron announced that it is to return the rights HF0420 to its inventor, Professor Umberto Cornelli at Loyola University Medical Center, who carried out its early-stage development in collaboration with other researchers from Loyola.
Under the Agreement reached by Newron with Professor Cornelli, clinical development of HF0420 will be pursued by him and his co-inventors. In return, Newron shall receive undisclosed milestone payments and royalties on the successful development and commercialization of the compound in any indication.
Newron and Biotie
In September 2011, Biotie Therapies and Newron Pharmaceuticals announced that they signed an agreement for Biotie to acquire Newron. In October 2011, Biotie notified Newron of its decision to exercise...See full deal structure in Biomedtracker
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