Case Studies

Newron is an Italian biotechnology company that completed an IPO in 2006 on the Swiss market. The company is focused on the development of CNS therapeutics. In 2013 the company effectively had a Phase III complete asset for Parkinson's disease ready to file in the US and EU with a technology value of only CHF 50m.

Prior to joining Abingworth, Andrew Sinclair was on the investment banking team that took the company public, and did extensive due diligence on the lead assets, Safinamide and Ralfinamide. He maintained contact with management and followed the story. In 2013 following the departure of one corporate partner (MerckSerono) and publishing of Phase III data for its Parkinson's Disease asset, we reappraised the opportunity. Due diligence included expert physician calls, commercial and financial modelling, a sequence of management discussions and contact with key board members.

Developments since investment

Since our investment in 2013, Newron has increased its communication efforts and investor outreach which has helped generate interest in the stock. Following this, Xadago® (Safinamide) was approved for marketing in Europe in February 2015. In the US, the company received a refuse to file notice but re-filed in December 2014 and was accepted for review in March 2015.

BACK
Business
CNS Therapeutics
Indication
Parkinson's Disease
Stage
Phase III complete
Initial Investment
July 2013
Listing
Switzerland
Outcome
Still current

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Case Study

Newron is an Italian biotechnology company that completed an IPO in 2006 on the Swiss market. The company is focused on the development of CNS therapeutics. In 2013 the company effectively had a Phase III complete asset for Parkinson's disease ready to file in the US and EU with a technology value of only CHF 50m.

Prior to joining Abingworth, Andrew Sinclair was on the investment banking team that took the company public, and did extensive due diligence on the lead assets, Safinamide and Ralfinamide. He maintained contact with management and followed the story. In 2013 following the departure of one corporate partner (MerckSerono) and publishing of Phase III data for its Parkinson's Disease asset, we reappraised the opportunity. Due diligence included expert physician calls, commercial and financial modelling, a sequence of management discussions and contact with key board members.

Developments since investment

Since our investment in 2013, Newron has increased its communication efforts and investor outreach which has helped generate interest in the stock. Following this, Xadago® (Safinamide) was approved for marketing in Europe in February 2015. In the US, the company received a refuse to file notice but re-filed in December 2014 and was accepted for review in March 2015.

Business
CNS Therapeutics
Indication
Parkinson's Disease
Stage
Phase III complete
Initial Investment
July 2013
Listing
Switzerland
Outcome
Still current
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