Newron Pharmaceuticals to Acquire NeuroNova
Italian biopharmaceutical company Newron Pharmaceuticals is to acquire Stockholm-based NeuroNova for around €15.4m.
Italian biopharmaceutical company Newron Pharmaceuticals is to acquire Stockholm-based NeuroNova for around €15.4m. The transaction adds two Phase II compounds from NeuroNova to Newron’s CNS portfolio.
NeuroNova, founded by scientists from Karolinska Institutet, has extensive experience in the field of neurogenesis. The company’s sNN0031 and sNN0029 compounds generate new progenitor cells and protect existing neurons, benefitting patients with progressive neurodegenerative disorders such as Parkinson’s disease (PD) and amyotrophic lateral sclerosis (ALS).
At closure, Newron will benefit by up to b16m, which will provide for a Phase II PoC study in PD as well a Phase I/II study in ALS.
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