Saniona - Broad pipeline to address neurological conditions

Saniona is a European pioneer in ion channel drug discovery. Internally, it is primarily focused on its preclinical epilepsy pipeline: SAN2355 (for focal/generalised epilepsy) and SAN2219 (for acute repetitive seizures), as well as SAN2465 (for major depressive disorder). Saniona also has two active clinical-stage partnered programmes. Tesofensine (for obesity) is out-licensed to Medix; an application dossier was resubmitted to Mexican regulators in February 2025. Notably, in November 2024, SAN711 (for neurological conditions) was out-licensed to Acadia in exchange for $28m upfront and up to $582m in milestones plus royalties, which management believes should fund the three internal programmes to at least Phase II.

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