Tetra Therapeutics and Shionogi Announce Expanded Alliance
Grand Rapids, MI, March 4, 2020 (Business Wire) – Tetra Therapeutics, a clinical-stage biopharmaceutical company developing novel treatments for patients with cognitive impairment and memory loss, today announced it has entered into an expanded strategic alliance with Shionogi. The two companies will work together to develop and commercialize BPN14770 for the treatment of Alzheimer’s disease, Fragile X syndrome and other indications marked by cognitive and memory deficits.
Under the terms of the expanded alliance, Shionogi has increased its equity investment in the company to 50% and has the option to complete a structured buyout of the remaining equity if certain closing conditions are met based on the topline results of the company’s clinical Phase 2 PICASSO AD trial in patients with early Alzheimer’s disease expected to read out later this month.
Tetra is developing BPN14770 for the treatment of brain disorders marked by cognitive and memory impairment including Alzheimer’s disease and Fragile X syndrome. In addition, Tetra has completed enrollment in a Phase 2 study of BPN14770 in adults with Fragile X syndrome, an indication for which BPN14770 has received Orphan Drug Designation from the U.S. Food and Drug Administration.
“This expanded alliance with Shionogi further validates our platform and the potential for BPN14770 to provide a new treatment option for patients suffering from Alzheimer’s disease,” said Mark Gurney, Ph.D., Chairman and Chief Executive Officer of Tetra Therapeutics. “We are delighted to be expanding our collaboration with Shionogi and thank them for their continued conviction in our mission. We look forward to announcing topline results from our Phase 2 PICASSO AD trial in Alzheimer’s disease later this month.”
“We are pleased to strengthen our strategic alliance with Tetra. With the aging of our society, cognitive disorders are becoming a serious social issue. We believe BPN14770 has the potential to become an innovative new treatment to help solve for this issue. This new collaboration with Tetra reinforces our steadfast commitment to advancing cutting-edge science in central nervous system (CNS) disorders including Alzheimer’s disease,” said Dr. Isao Teshirogi, President and Chief Executive Officer, Shionogi & Co., Ltd.