Biotie informed that Merck Serono is returning full global rights for safinamide to Newron
(Thomson Reuters ONE) -
BIOTIE THERAPIES CORP. STOCK EXCHANGE RELEASE 21 October 2011 at 8:30 a.m.
(Helsinki time)
Biotie informed that Merck Serono is returning full global rights for safinamide
to Newron
Biotie has today been informed by Newron Pharmaceuticals S.p.A. ("Newron") that
effective April 2012 Merck Serono is returning to Newron the full global rights
for safinamide, currently in Phase 3 development for Parkinson's disease.
Merck Serono has announced that it will meet its contractual and ethical
commitments regarding the ongoing clinical development program for safinamide
until April 2012 and will work with Newron to execute an appropriate transfer of
the program to Newron.
Biotie and Newron announced on 27 September 2011 that they have signed an
agreement for Biotie to acquire Newron in a transaction valued at EUR 45 million
(the "Transaction"). The Transaction is still subject inter alia to the approval
by the extraordinary shareholder's meeting of Newron, scheduled to convene on
31 October 2011.
Biotie is evaluating the potential impact of this new development to the
proposed Transaction and a further announcement will be made in due course.
In Turku, 21 October 2011
Biotie Therapies Corp.
Timo Veromaa
President and CEO
For further information, please contact:
Virve Nurmi, Investor Relations Manager
tel. +358 2 274 8911, e-mail: virve.nurmi(at)biotie.com
www.biotie.com
Distribution:
NASDAQ OMX Helsinki Ltd
Main Media
ATTACHMENT: Press release by Newron 21 October 2011
20111021_Newron Safinamide press release:
http://hugin.info/132030/R/1556802/480488.pdf
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Source: Biotie Therapies Oyj via Thomson Reuters ONE
[HUG#1556802]
Unternehmensinformation / Kurzprofil:
Datum: 21.10.2011 - 07:30 Uhr
Sprache: Deutsch
News-ID 78811
Anzahl Zeichen: 2435
contact information:
Town:
Turku
Kategorie:
Business News
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