Newron bags €40m EIB loan
The EIB has agreed to support Italian CNS drug developer Newron Pharmaceuticals with up to €40m to support the development of the company's late-stage pipeline.
The loan will provide Newron with financial flexibility beyond 2019. The companys product safinamide is the first New Chemical Entity in a decade approved in Europe and the U.S. for the treatment of Parkinsons disease (PD). Newron has two advanced product candidates in late stage clinical development: Sarizotan for the treatment of respiratory disturbances in Rett syndrome, which is evaluated in the ongoing potentially pivotal STARS study, and Evenamide as a symptomatic add-on therapy to clozapine for the treatment of schizophrenia.
Newron plans to directly market orphan drugs emerging of its clinical pipeline. EIB financing is intended to boost Newrons R&D activities and will primarily be used to support the Companys pivotal and post approval stage development programmes.
Newron has a strong pipeline of treatments for rare disease patients at various stages of clinical development, including Sarizotan for patients with Rett syndrome and ralfinamide for patients with specific rare pain indications. Newron is also developing Evenamide as the potential first add-on therapy for the treatment of patients with positive symptoms of schizophrenia.