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news.Italian pharma Newron has granted Serono exclusive worldwide rights to develop, manufacture and commercialize safinamide in cognitive disorders including Parkinson's and Alzheimer's disease.
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Under the terms of the agreement, Serono will be responsible for all future development, manufacture and commercialization costs. Serono will make an upfront payment and additional milestone payments to Newron of up to $200 million. In addition, Newron will have the right to opt for co-promotion with Serono in Italy and Spain.
“Serono has a major presence in the area of CNS and is the right partner to take safinamide on at this late-stage in its development. The significant financial contribution from Serono, together with the co-promotion opportunity, will enable us to further develop Newron as a broader based fully integrated bio-pharmaceutical company,” said Luca Benatti, CEO of Newron.
Newron has recently reported positive results with safinamide from an early phase III study in Parkinson's disease.
Serono will head a program to put safinamide through an extensive clinical development plan. This will involve Newron completing on-going phase III studies with safinamide.
Serono plans to expand the program with a series of additional studies aimed at addressing unmet medical needs in the treatment of Parkinson's disease.