Tetra Discovery Partners and Shionogi & Co., Ltd. today announced they have entered into a strategic collaboration for the clinical development and commercialization of BPN14770, Tetra’s selective phosphodiesterase-4D (PDE4D) allosteric inhibitor, for the treatment of Fragile X Syndrome, Alzheimer’s disease and other indications marked by cognitive and memory deficits. The goal of the collaboration is to accelerate the development of an innovative therapeutic for patients in key Asian markets.
In exchange for granting Shionogi development rights to BPN14770 in Japan, Taiwan and Korea, Tetra Discovery Partners has received $40 million in combined upfront funding, including an equity investment and licensing payment. Tetra will also be eligible to receive up to an additional $120 million in development and commercialization milestones, as well as royalties on sales if BPN14770 is successfully commercialized. Further financial details of the agreement were not disclosed.
Tetra is developing BPN14770 for the treatment of brain disorders marked by cognitive and memory deficits, including Fragile X Syndrome, Alzheimer’s disease and other dementias, learning/developmental disabilities, major depression, and schizophrenia. The company currently is conducting an investigational 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. Preparations are also under way to initiate a Phase 2 trial of BPN14770 in patients with early Alzheimer’s disease.
“We are very pleased to join forces with Shionogi, a company that shares our interests in developing innovative medicines for patients with debilitating central nervous system (CNS) conditions,” said Mark Gurney, Ph.D., Chairman and Chief Executive Officer of Tetra Discovery Partners. “Shionogi scientists contributed greatly to fundamental discoveries concerning the biochemical pathway modulated by BPN14770. The company’s in-depth knowledge of this brain pathway and focus on CNS drug development makes Shionogi a very compelling partner for Tetra. We greatly look forward to collaborating with them to accelerate the development of BPN14770 and to broaden geographic access to a potentially important new therapeutic.”
Dr. Gurney noted that the new funding will enable Tetra to complete its ongoing Phase 2 trial in Fragile X Syndrome and to initiate a Phase 2 trial of BPN14770 in patients with early Alzheimer’s disease in early 2019.
“This collaboration, if successful, will enable us to move one step closer in realizing a more vigorous society in which patients can be relieved from debilitating central nervous system (CNS) conditions.” said Dr. Isao Teshirogi, President and Chief Executive Officer, Shionogi & Co., Ltd. “In addition, the compound will allow us to further strengthen the presence in CNS area that we have built up with Cymbalta and Intuniv.”