Santhera has reported that it has exercised its option to acquire Oy Juvantia Pharma, the owner of JP-1730/fipamezole.
Reportedly, the company will issue up to 105,973 previously reserved shares from its authorized capital to Juvantia investors, subject to certain conditions.
JP-1730/fipamezole, a first-in-class compound, recently completed phase II development for the treatment of Dyskinesia in Parkinson’s disease.
Upon the exercise of the option, Santhera will immediately own Juvantia. In consideration and subject to certain conditions, Santhera will later issue up to 105,973 previously reserved shares from its authorized capital to Juvantia investors.
After the closing of the transaction, the share capital of Santhera will consist of 3,628,688 listed shares with a nominal value of CHF 1 each and the available amount of authorized share capital will be reduced accordingly to CHF323,945.
In July 2006, Santhera and Juvantia signed a collaboration agreement to advance the development of Juvantia’s compound JP-1730/fipamezole.
Klaus Schollmeier, CEO of Santhera, said: The positive FJORD phase IIb results confirmed the efficacy of JP-1730/fipamezole in reducing levodopa-induced dyskinesia in patients suffering from Parkinson’s disease. In order to exploit the full potential of the drug for Santhera, including potential out-licensing rights, we now have full access to all rights to the product.