Newron Pharmaceuticals Secures New Royalties
Edison | Mar 18, 2016 08:45AM ET
Commercial partner, Zambon, has announced a sublicence agreement with US WorldMeds for the US commercialisation of Parkinson’s disease (PD) therapy Xadago (safinamide). Under the agreement’s terms Zambon will give Newron Pharmaceuticals (SIX:NWRN) a share of undisclosed, upfront milestone and royalty payments made by US WorldMeds, in addition to a milestone payment on FDA approval (we estimate €9m, not included in our forecasts). Importantly Xadago’s US PDUFA date is looming (29 March 2016) and a positive decision will clearly bode well for Newron’s share price. Our valuation of Newron remains unchanged at CHF504m or CHF35.5/share.
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