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news.UCB and Synosia have entered into a license agreement, under which UCB has received license for exclusive, worldwide rights to develop compound SYN-115 and rights to a second compound, SYN-118, for non-orphan indications, from Synosia Therapeutics.
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As per the agreement, Synosia will be responsible for SYN-115 and SYN-118 through Phase II clinical development. UCB will be responsible for Phase III clinical development and commercialisation.
Under the contract, UCB will make an equity investment totalling $20m as part of a Series C funding in Synosia.
Additionally, Synosia will also receive an undisclosed upfront payment and could receive potential regulatory and commercial milestone payments of up to a total of $725m across both compounds.
Synosia president CEO Ian Massey said that UCB is an ideal partner for them given their global capabilities and presence in the field of neurology and their demonstrated ability to form innovative and effective partnerships.
"Given the novel mechanisms and encouraging results for SYN-115 and SYN-118, as well as the financial structure of our agreement with UCB, this partnership has the potential to be a big value driver for Synosia while providing valuable new therapies for patients with movement disorders," Massey said.