) recently announced that it has licensed exclusive global rights
to tozadenant (SYN115) for Parkinson's disease from Biotie
Tozadenant is an orally administered, selective inhibitor of the
adenosine 2a receptor, which is being developed for the treatment
of Parkinson's disease.
UCB's decision to in-license the candidate was based on
encouraging results from a double-blind, randomized,
placebo-controlled phase IIb study that evaluated tozadenant as
an adjunctive therapy in levodopa-treated Parkinson's disease
patients. Phase III program will be conducted by Biotie for which
patient enrolment will start by the first half of 2015.
Terms of the Deal
UCB and Biotie had initially announced their collaboration in
2010. However, with the in-licensing of tozadenant, the original
agreement has been modified. Biotie will now receive an upfront
payment of $20 million from UCB. Under the original agreement,
Biotie was supposed to receive an additional $340 million on the
achievement of future milestones. Under the revised deal, Biotie
will receive additional amounts in the low triple-digit millions
in total, over the next six years, on the achievement of defined
development, regulatory and commercialization milestones. Both
UCB and Biotie will work on the ongoing clinical development of
this candidate. Manufacturing and commercialization of tozadenant
will be handled by UCB.
This licensing deal represents UCB's efforts to strengthen its
Parkinson's disease portfolio. The company currently has Neupro
in its portfolio for the symptomatic treatment of all stages of
idiopathic Parkinson's disease.
UCB carries a Zacks Rank #3 (Hold). Currently, companies like
Lannett Company, Inc.
SIGA Technologies, Inc.
) look more attractive with a Zacks Rank #1 (Strong Buy).
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