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Neurotune expands its portfolio by acquiring

09-18-2008 05:11 PM CET | Health & Medicine

Press release from: Neurotune AG

/ PR Agency: Biotech Consulting
Schlieren, 18th September 2008. Neurotune AG, a Swiss biopharmaceutical company, announces that the shareholders meeting, held on August 29th 2008, approved of the expansion of its portfolio with two programs in neuropathic pain. The company has reached an agreement with the Italy-based company Brane Discovery Srl. to acquire rights for two programs in neuropathic pain in a combined cash and share transaction.
In a recent financing round, which was lead by CC Private Equity Partners Ltd., Neurotune has increased its capital. The company will allocate existing and new funds to the development of the company’s own sarcopenia program including the diagnostic methods and to the acquired projects in neuropathic pain. The newly added projects shall be driven towards the most important sub-indications in the neuropathic pain market, such as osteoarthritis pain or diabetic neuropathy. The projects are in preclinical and clinical Phase 1 stage, respectively.
The therapeutic focus of Neurotune lies on disorders of the nervous system. Andreas J. Schulze, CEO of Neurotune, said that the acquisition is part of the implementation of Neurotune’s strategic decision to broaden its pipeline with attractive indications in the CNS area. 170 to 270 million individuals worldwide are affected by neuropathic pain. So far only few drugs have been approved for treatment. The large patient potential in combination with a huge need for effective therapies offers a considerable commercial opportunity. The world market is currently valued at $31.1bn and is forecasted to grow just under $40bn in 2012.
Mario Trotti, the speaker of the shareholders of Brane Discovery Srl., said that the agreement with Neurotune is both, satisfactory to the Brane shareholder and rewarding for all the scientists who initiated and contributed to the development of these neuropathic pain projects. Both projects have been properly perceived for their value potential.

Neurotune was incorporated in January 2005 and has its domicile in Schlieren, Switzerland. Neurotune develops small-molecular drugs to treat disorders of the human nervous system.

neurotune ag
Wagistrasse 27 a
8952 Schlieren
Switzerland
Phone +41 44 200 21 95
Fax +41 44 200 20 10
www.neurotune.com

Media enquiries
Dr. Holger Bengs
Biotech Consulting
Phone +49 69 6199 4273
Fax +49 69 6199 4249
info@holgerbengs.de

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