Saniona (OMX: SANION), a clinical-stage biopharmaceutical company focused on neurological and psychiatric disorders, today announces that it has agreed to sell its entire shareholding in AstronauTx Ltd ("AstronauTx") to existing AstronauTx investors for GBP 3.36 million (SEK 44.5 million) in cash. Saniona received the shares in August 2026 when AstronauTx exercised its option to acquire worldwide rights to ATX0926. The transaction does not affect Saniona's rights under the collaboration, including potential milestone payments of up to USD 172 million and tiered royalties.
The purchase price will be paid in cash upon completion of the transaction, which is expected by the end of November 2026. The proceeds provide additional non-dilutive funding and further strengthen Saniona's financial position as it advances SAN2465 and SAN2668 into Phase 1 clinical development.
"With SAN2465 and SAN2668 approaching clinical development, our priority is to allocate capital to our wholly owned programs," said Johnny Stilou, Chief Financial Officer of Saniona. "The sale strengthens our financial flexibility and provides non-dilutive funding to support our clinical development plans."
In Saniona's interim report for the third quarter of 2026, the shareholding will be valued at the agreed sale price. The fair value has been assessed in conjunction with the agreed sales price. The resulting non-cash adjustment will be recognized as a financial item and will not affect the income previously recognized in connection with the option exercise.
About the AstronauTx-Saniona Collaboration
In July 2023, Saniona and AstronauTx entered into a research collaboration and option agreement to discover novel treatments for Alzheimer's disease and other neurodegenerative conditions by modulating a novel, undisclosed ion channel target. In August 2026, AstronauTx exercised its option to obtain worldwide exclusive rights to therapeutic candidates arising from the collaboration, including ATX0926, through the issuance of Series A shares to Saniona. In October 2026, Saniona agreed to sell these shares to existing AstronauTx investors.
Saniona is eligible to receive milestone payments of up to USD 172 million, comprising up to USD 97 million in development and regulatory milestones and up to USD 75 million in commercial milestones, in addition to tiered royalties on net sales of any products commercialized by AstronauTx under the collaboration.
About Saniona
Saniona is a clinical-stage biopharmaceutical company focused on discovering, developing, and delivering innovative treatments for neurological and psychiatric disorders. The company's internal pipeline includes SAN2668 for pediatric epilepsy syndromes and SAN2465 for major depressive disorder. Saniona has established strategic collaborations with leading pharmaceutical companies, including Jazz Pharmaceuticals, which holds global rights to SAN2355 for epilepsy, Acadia Pharmaceuticals, which holds worldwide rights to ACP-711 for essential tremor, and with Medix, which holds rights to tesofensine for obesity in Mexico, and Argentina. Saniona's ion channel discovery platform is further validated through research collaborations with Boehringer Ingelheim, Cephagenix and AstronauTx, which holds worldwide rights to ATX0926. Headquartered in Copenhagen, Saniona is listed on the Nasdaq Stockholm Main Market.
For more information, visit www.saniona.com.
For more information, please contact
Johnny Stilou, CFO, +45 21227227; johnny.stilou@saniona.com
