Japan's Astellas won't be developing an experimental new drug for schizophrenia it in-licensed from Denmark's NeuroSearch. The Danish company says that Astellas has returned the global rights to ACR16, which is in a late-stage trial for Huntington's disease. Astellas has been testing the drug in Phase I for schizophrenia.
"Based on a strategic assessment including consideration of the commercial and developmental challenges in this indication," reports NeuroSearch, "Astellas has now decided to discontinue development of ACR16 in schizophrenia and to return all territorial and commercialization rights to the compound to NeuroSearch. Astellas' decision does not relate to any technical or developmental issues of relevance for NeuroSearch's ongoing clinical program with ACR16 or for the drug's potential in the treatment of Huntington's disease."
The company says the decision to terminate the licensing pact won't affect its budget or development program.
- check out NeuroSearch's release