Serono signs development deal for neurological disease drug

Serono, the Swiss pharmaceutical company, has announced a deal with Italian research and development company Newron to acquire the worldwide rights to safinamide, a new drug for the treatment of cognitive disorders.

Safinamide, a drug in late-stage development, recently delivered “positive” results in a phase III study for Parkinson’s disease. Additionally, the drug is also intended for use patients with Alzheimer’s disease.

In addition to assuming marketing responsibilities, Serono will help Newron launch an “extensive” clinical development programme, involving the completion of Newron’s ongoing phase III studies, as well as “innovative” additional studies aimed at assessing the potential of safinamide in treating currently unmet clinical needs in Parkinson’s disease patients.

Under the terms of the deal, Newron could receive milestone payments of up to $200 million (108 million pounds) depending on the drug’s commercial success and an upfront fee.

Franck Latrille, senior executive vice president of global product development at Serono, remarked: “This partnership enables us to expand our neurology portfolio by investing in innovative products to meet significant unmet medical needs, such as Parkinson’s and Alzheimer’s disease.”

Serono, which was purchased by Merck KGaA last month, also markets Rebif, the multiple sclerosis drug, in addition to a number of products for oncology and reproductive health indications.