You are here

NeuroSearch and Teva Pharmaceutical International enter into agreement on outstanding obligations

Announcement
16 May 2018







NeuroSearch has today entered into an agreement with, among others, Teva Pharmaceutical International GmbH (Teva), to release Teva from all outstanding obligations pursuant to the agreement from 2012 concerning the transfer of NeuroSearch's rights in and to Pridopidine. According to the agreement now entered into, in the event that Teva prior to 31 October 2018 enters into an agreement with an identified third party relating to the sale and transfer of Teva's rights in and to Pridopidine, then NeuroSearch will receive a cash payment of USD 450,000. This agreement is in connection with Teva’s decision not to develop Pridopidine further following the failure by Pridopidine to meet its primary endpoints in Huntington’s Disease in a Phase II trial conducted by Teva, and potential interest in the asset by an identified third party.

Provided the agreement is finally completed, NeuroSearch's financial expectations for 2018 will be amended from a loss of DKK 3.5-4.5 million to a loss of DKK 0.8-1.8 million.




Contact person
Allan Andersen, CEO, telephone: +45 4016 3864



About NeuroSearch
NeuroSearch A/S (NEUR) is listed on NASDAQ Copenhagen A/S.

Attachment

Wednesday, May 16, 2018 - 13:22

More Headlines

New Algorithm Surveys Alterations in DNA and Millions of Points in the Human Genome
First Oral Drug Increases Activity of the Body’s Deficient Enzyme
Venous Thromboembolism and Other Risks to Be Evaluated in Postmarketing Studies
Researchers Recommend Increased Testing for Men
New Draft Guidance Seeks to Better Target Patient Needs
It’s All in How the Data Are Analyzed
Two Phase 3 Studies Met Endpoint of Complete Clearance of Lesions