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 Parkinsonâ€™s disease.
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 Synosiaâ€™s Board of Directors.
â€œWe are impressed with Synosiaâ€™s development capabilities and the possibility of expanding our alliance in the future,â€ said Dr Ismail Kola, Executive Vice President of Drug Discovery and President of UCB NewMedicines. â€œWith 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.â€
â€œUCB 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,â€ said Dr Ian Massey, Chief Executive Officer and President of Synosia Therapeutics. â€œGiven the novel mechanisms and encouraging results of 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.â€