Italy's Newron buys U.K.-based developer

Italy's Newron Pharmaceuticals has U.K.-based Hunter-Fleming, a company that's developing therapies for neurodegenerative and inflammatory disorders. Newron gains several clinical-stage compounds, including:

  • HF0220, a Phase II drug for Alzheimer's disease and rheumatoid arthritis;
  • HF0420, a Phase I therapy for prevention of anti-cancer therapy induced neuropathy;
  • and HF0299, a potential neuropathic pain treatment in Phase I

Hunter-Fleming also has a neuroprotective compound series in the discovery phase. Newron will make an upfront payment of €8 million, minus net debt, for the fully diluted share capital of Hunter-Fleming, in newly issued Newron shares. In addition, Hunter-Fleming programs could earn up to €17 million in success-based milestones.

"Hunter-Fleming represents an excellent opportunity for Newron to expand its late-stage development pipeline, a key element of our strategy for growth. It also enables us to expand our CNS expertise into the area of neuro-inflammation thus broadening our overall CNS knowledge," said Dr. Luca Benatti, Newron's CEO.

- here's the release