January 18, 2023
1 minute read
UK-based biotechnology company Pheno Therapeutics has announced that it has entered into an exclusive worldwide licensing agreement with Belgian-based biopharmaceutical company UCB to provide novel treatments for neurodegenerative diseases.
According to a release issued by Pheno, the new agreement will develop and manufacture a preclinical program of novel small molecules designed to promote remyelination for the treatment of neurological conditions like MS. , gives the company full access and rights to commercialize.
“Pheno Therapeutics has leveraged its proprietary human phenotypic screening platform to discover novel and tractable therapeutic targets for modulating oligodendrocyte biology and promoting remyelination.” Fraser Murray doctorate, Pheno Therapeutics CEO said in the release: “This license will allow us to accelerate clinical development of promising drug targets.”
Pheno will make a one-time upfront payment for roles in development, manufacturing and global commercialization at the release, while UCB is expected to receive milestones and tiered royalties on net sales. said.
“Such a licensing agreement is a demonstration of the value that UCB scientists and partners are creating through strong research productivity, and Pheno Therapeutics, with its expertise in phenotypic screening, stem cell technology and myelin biology, has recently We are confident that we will develop a clinical program that will reach its full potential.” Daval Patel UCB Executive Vice President and Chief Scientific Officer said: