May 18, 2018
Saniona, a leading biotech company within ion-channel research, today announces that BenevolentAI and Saniona will terminate the collaboration program in neurology. Saniona regains all rights to the program including all potential lead compounds and data generated from pre-clinical studies conducted by BenevolentAI.
"During our collaboration we have demonstrated highly interesting data for our lead compounds in specific indications within neurology including epilepsy and pain as well as urinary incontinence. We are excited to take over the "Kv7 program" at this advanced stage and will continue pursuing it internally" says Jørgen Drejer, CEO of Saniona.
The collaboration has delivered highly interesting potential drug candidates with possibilities for novel treatment in neurology including pain and epilepsy as well as urinary incontinence. However, following a major strategic review after the acquisition of Saniona's partner Proximagen, BenevolentAI concluded that the program was non-aligned with the overall company strategy. Therefore, Saniona will now pursue this opportunity internally.
Saniona regains all rights to its Kv7 ion channel program including lead compounds and potential development candidates. Part of the program has been developed under a prestigious non-dilutive grant from the Innovation Fund Denmark to promote specific drug candidates as novel effective and well tolerated treatment opportunities in urinary incontinence.
The regain of the rights to the program will not have any material impact on Saniona's financial expectations for 2018.
For more information, please contact
Thomas Feldthus, EVP and CFO, Saniona, Mobile: +45 2210 9957, E-mail: email@example.com
This information is information that Saniona (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 04:45 pm CET on May 18, 2018.
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, 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.
- 20180518 - PR - Saniona regains rights from Benevolent - UK (https://prlibrary-eu.nasdaq.com/Resource/Download/7a44433a-35d7-408c-9be4-b2b58bfcd3f3)