Santhera buys Juvantia
Liestal – Swiss neuromuscular disease specialist Santhera Pharmaceuticals has exercised its option to acquire Finnish Juvantia Pharma Ltd., whose novel adrenergic alpha-2 receptor antagonist Fipamezole reduced dyskinesia and other symptoms of Parkinson’s Disease in a Phase IIb trial. Santhera said it will issue about 100,000 shares to Juvantia’s investors worth EUR2.8m. Fipamezole has been developed together with the Finnish company since July 2006. Under the terms of the agreement, Santhera was responsible for conducting and funding the further development of the substance. Santhera used its newly acquired compound to license the North American rights of Fipamezole to Biovail Corp. which paid an upfront fee of US$8m.