Biotie announces Roche has decided to not exercise its rights to SYN120
Biotie has announced that it is retaining global development and commercialization rights to SYN120, following Roche's decision not to exercise its opt-in right due to strategic portfolio reasons.
SYN120 is Biotie's novel selective 5-HT6 receptor antagonist that has recently successfully completed a Phase 1 program including a study using positron emission tomography (PET) imaging to determine appropriate dosing for Phase 2 development.
Timo Veromaa, Chief Executive Officer of Biotie, commented: "5-HT6 is a very promising, clinically-validated target in cognitive disorders and SYN120 represents a truly exciting and differentiated product for the treatment of Alzheimer's disease, schizophrenia and other conditions. A number of reputable companies have already expressed an interest in the compound and we are confident that we will find a high quality partner".
SYN120 has an extensive package of clinical and preclinical data and is ready to enter Phase 2. In March 2012, Biotie reported top-line data from a Phase 1 clinical study using PET imaging to determine the occupancy of the 5HT6 receptor in the brain following administration of SYN120. The study showed that target levels of receptor occupancy expected for efficacy can be achieved with SYN120 doses that are an order of magnitude lower than those that have previously been shown to be safe and well tolerated for up to two weeks in healthy older volunteers. As such SYN120 is expected to demonstrate efficacy with a very wide safety margin.