Biotie Therapies’ Options Expand On Nalmefene And Tozadenant Progress
This article was originally published in The Pink Sheet Daily
Finland's only publicly listed biotech, Biotie Therapies, is reviewing its licensing and M&A options in niche CNS areas as product milestone payments and equity investments expand its cash runway.
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Biotie Therapies gets $20 million as UCB exercises its option on the investigational Parkinson's disease therapy tozadenant and asks the Finnish biotech to continue its clinical development of the product into Phase III.
Europe's top scientific advisory panel backed Lundbeck's alcoholism therapy Selincro (nalmefene) and Roche's next-generation breast cancer therapy Perjeta (pertuzumab) but rejected Genzyme/Isis' antisense therapy Kynamro (mipomersen) and Vanda's Fanaptum (oral iloperidone).
A Phase III drug for alcohol dependence and two Parkinson's disease therapies will head the pipeline of a proposed new European CNS drug development company.