Tokyo, Japan, Aug 4, 2005 - (JCNN) - Takeda Pharmaceutical and Santhera Pharmaceuticals jointly announced on August 3 that the two companies have signed an agreement for Idebenone, (SNT-MC17), a drug candidate for Friedreich's Ataxia developed by Takeda.
Under the terms of the agreement, Takeda will provide data collected from its nonclinical studies in the US and Santhera will proceed with development and apply for approval of the agent in Europe and the US.
In addition, Takeda will pay its partner an upfront payment of 5 million euros as well as development milestones and royalties. Phase III clinical trails will soon start in Europe and the US.
Upon commercialization of the agent, Takeda will market it in Europe while Santhera will handle sales in the US and supply the product.
Friedreich's Ataxia, a spinocerebellar degeneration, is an inherited disease that causes progressive damage to the nervous system, resulting in muscle weakness, speech problems and heart disease.
Source: JCN http://www.japancorp.net
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