Lundbeck divests preclinical research programs
Two programs outside Lundbeck’s areas of focus are transferred to MindImmune Therapeutics, Inc.
H. Lundbeck A/S (Lundbeck) further focuses its preclinical research pipeline with the divestment of two research programs to biotech company MindImmune Therapeutics, Inc. (MindImmune). In exchange for the programs, Lundbeck receives an equity interest in MindImmune as well as milestone payments and royalties according to the progression of the programs.
The agreement follows Lundbeck’s strategy of focusing its efforts within four disease areas; depression, schizophrenia, Alzheimer’s disease and Parkinson’s disease, for which the programs are not relevant. Per its strategy Lundbeck itself has therefore not prioritized further development of the programs, but the agreement ensures that these potential new treatments will now be brought forward. There will be no costs for Lundbeck associated with the future development of the programs.
“We focus on treatments for depression, schizophrenia, Alzheimer’s disease and Parkinson’s disease, so we are pleased to divest these two promising research programs that fall outside our focus areas in line with our strategy. This agreement ensures the continued development of the programs building on our research and hopefully leading to new and better treatments for patients”, says Kim Andersen, Senior Vice President, Research, at Lundbeck.
Targets the immune system
The two programs target parts of the body’s own immune system. Malfunctions here are believed to cause chronic neuropathic pain and Huntington’s disease, which may therefore hopefully be treated by the compounds now transferred to MindImmune.
“We greatly appreciate the confidence Lundbeck has shown in MindImmune,” says Stevin Zorn, Ph.D., President and CEO of MindImmune. “We are committed to driving these programs forward and bringing product candidates into the clinic with the potential to transform the lives of patients with chronic neuropathic pain and Huntington’s disease.”
The agreement with MindImmune follows similar deals in recent years in which Lundbeck has exchanged non-strategic research programs for equity interests, milestone payments and/or royalties. Such deals include the transfer of a compound for treating sickle cell disease to Imara, Inc. and of gaboxadol to Ovid Therapeutics Inc. for development as a treatment for Angelman syndrome and Fragile X syndrome.
H. Lundbeck A/S (LUN.CO, LUN DC, HLUYY) is a global pharmaceutical company specialized in psychiatric and neurological disorders. For more than 70 years, we have been at the forefront of research within neuroscience. Our key areas of focus are depression, schizophrenia, Parkinson’s disease and Alzheimer’s disease.
An estimated 700 million people worldwide are living with psychiatric and neurological disorders and far too many suffer due to inadequate treatment, discrimination, a reduced number of working days, early retirement and other unnecessary consequences. Every day, we strive for improved treatment and a better life for people living with psychiatric and neurological disorders – we call this Progress in Mind.
Read more at www.lundbeck.com/global/about-us/progress-in-mind.
Our approximately 5,000 employees in more than 50 countries are engaged in the entire value chain throughout research, development, production, marketing and sales. Our pipeline consists of several late-stage development programmes and our products are available in more than 100 countries. Our research centre is based in Denmark and our production facilities are located in Denmark, France and Italy. Lundbeck generated revenue of DKK 17.2 billion in 2017 (EUR 2.3 billion; USD 2.6 billion).
MindImmune is a biotech company targeting the immune system to treat brain disease. The company was founded in 2016 in the US and is based at the University of Rhode Island. It is affiliated with the George & Anne Ryan Institute for Neuroscience, a multidisciplinary research center focused on discovering and developing disease-modifying therapies for neurodegenerative disorders. www. MindImmune.com