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Newron Pharmaceuticals SpA

Drug Names(s): HF0299

Description: HF0299 is a naturally occurring steroid. Among other actions, it has an anabolic effect on cortical bone. Little information has been released about the drug.

Deal Structure: HF0299 was originally developed by Hunter-Fleming Ltd.

Newron and Hunter-Fleming
In February 2008, Newron Pharmaceuticals announced the acquisition of Hunter-Fleming. The agreement provides for the acquisition of 100% of the issued share capital of Hunter-Fleming. Newron will make an upfront payment of 8m, minus net debt, for the fully diluted share capital of Hunter-Fleming, in newly issued Newron shares. In addition, success-based milestones related to the Hunter-Fleming programs will be made up to a maximum of 17m, in newly issued Newron shares.

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 its right to terminate the Merger Plan and combination agreement, without further obligations from Biotie.

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