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Saniona AB: Saniona's Partner Cadent Therapeutics Receives Milestone from Novartis
October 17, 2017
Saniona, a leading biotech company in the field of ion channels, today announced that its collaboration partner, Cadent Therapeutics (former Luc Therapeutics), has earned a milestone payment from Novartis for the initiation of a Phase 1 clinical study for one of its pipeline programs.
"We wish to congratulate Cadent with this important milestone in their Phase 1 program with Novartis. The advancement of clinical programs in their pipeline is imperative for the value generation in Saniona's stake in Cadent," says Jørgen Drejer, CEO of Saniona.
Cadent Therapeutics also confirmed that it expects to initiate clinical development in 2018 for the program in collaboration with Saniona. Apart from being a shareholder of Cadent Therapeutics, Saniona retains the rights to royalties on products commercialised by Cadent Therapeutics under the program in collaboration with Saniona.
Cadent Therapeutics recently changed its name from Luc Therapeutics. The new name was published today through the launch of the company's new website.
For more information, please contact
Thomas Feldthus, EVP and CFO, Saniona, Mobile: +45 2210 9957, E-mail: firstname.lastname@example.org
This information is information that Saniona (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and Sweden's Securities Market Act. The information was submitted for publication, through the agency of the contact person set out above, at 14:15 CET on October 17, 2017.
Saniona is a research and development company focused on drugs for diseases of the central nervous system, autoimmune diseases, metabolic diseases and treatment of pain. The company has a significant portfolio of potential drug candidates at pre-clinical and clinical stage. The research is focused on ion channels, which makes up a unique protein class that enables and controls the passage of charged ions across cell membranes. Saniona has ongoing collaboration agreements with Boehringer Ingelheim GmbH, Proximagen Ltd., Productos Medix, S.A de S.V and Cadent Therapeutics. Saniona is based in Copenhagen, Denmark, where it has a research center of high international standard. Saniona is listed at Nasdaq Stockholm Small Cap and has about 5,100 shareholders. The company's share is traded under the ticker SANION. Read more at www.saniona.com.
About Cadent Therapeutics
Cadent Therapeutics is a precision neuroscience company developing novel medicines that tune and modulate brain rhythms to restore cognitive and motor function in patients with serious neurological disease. The company leverages its unique precision neuroscience approach combining target specificity, patient selection, drug design and optimization, and novel quantitative endpoints to create first-in-class molecules to treat movement and cognitive disorders. Currently in early clinical development, Cadent is rapidly advancing its pipeline of therapies to treat spinocerebellar ataxia, essential tremor and schizophrenia. Investors include Atlas Venture, Clal Biotechnology Industries, Slater Technology Fund and Novartis. For more information, please visit cadenttx.com.Attachments: