SAN FRANCISCO, March 29, 2017 /PRNewswire/ -- Spiral Therapeutics, Inc. today announced the signature of an option agreement with Bionure Farma, S.L. for the worldwide exclusive rights to Bionure's lead candidate, BN201 and to BN119 in the field of otolaryngology for aggregate payments of up to US$4.86 million plus sales-based royalties.
The agreement provides Spiral with the option to license two pre-clinical stage assets with a differentiated product profile. Under the terms of the agreement, Spiral will initiate a feasibility assessment to determine the potential for BN201 and BN119 to be developed for the prevention and treatment of inner ear disorders. Spiral expects to complete this process and to exercise the option by Q3 2017.
"We are very pleased to acquire the opportunity to develop BN201 and BN119 for inner ear disorders and build on Bionure's excellent pre-clinical work around its candidates," said Hugo Peris, founder and CEO of Spiral Therapeutics. "This agreement will accelerate Spiral's vision to become a leading player in the fast-growing inner ear space."
"Spiral has rapidly built strong expertise in the otology field since its foundation last year," said Albert Zamora, CEO of Bionure. "We are pleased to partner with Spiral in progressing our drugs in this important therapeutic area with many unmet medical needs."
About BN201 and BN119
Bionure's compounds BN201 and BN119 are two SGK agonists with remyelinating and neuroprotective activity. Bionure has developed BN201 for the treatment of rare ophthalmic indications associated with multiple sclerosis and expects to receive Clinical Trial Authorization for BN201 in the UK in Q2 2017. BN201 and BN119 could be useful in preventing and treating debilitating inner ear disorders, like sensorineural hearing loss.
Bionure is a late-preclinical drug development company based in Barcelona, Spain focused on developing first-in-class SGK agonists for the treatment of rare ophthalmic diseases. Bionure's lead candidate BN201 is a small molecule, new chemical entity that promotes neuroprotection and remyelination. Bionure plans to start clinical trials in 2017.
About Spiral Therapeutics
Spiral Therapeutics is a late stage preclinical company focused on the development of first-in-class products targeting inner ear disorders. Spiral's lead candidate LPT99 for prevention of hearing loss is expected to reach clinical stage in 2018. Spiral is headquartered in San Francisco, CA and has an R&D office in Barcelona, Spain.
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SOURCE Spiral Therapeutics, Inc.