Serono licenses Newron Parkinson's therapy

Switzerland's Serono has won the worldwide development rights to Newron Pharmaceuticals' safinamide Parkinson's therapy. Newron recently unveiled positive data from an early Phase III trial of safinamide. Serono is talking over the development costs on the drug, is paying an undisclosed up front fee and has committed to up to $200 million in milestones. "This partnership enables us to expand our neurology portfolio by investing in innovative products to meet significant unmet medical needs, such as Parkinson's and Alzheimer's disease," said Franck Latrille, Serono's senior executive vice president for global product development.

- here's the AP report on Serono's deal