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Saniona collaborates with Pfizer in million dollar agreement

The Danish biotechnology company has announced a drug developement collaboration with the global pharma giant.

Saniona, previously known under the name Aniona, focuses on small molecule drug discovery within the ion channel field. The collaboration with Pfizer involves research on pharmaceuticals to treat neurological diseases and makes use of Saniona’s expertise within the ion channel field, according to a statement from the company. Under the collaboration agreement Pfizer will have global exclusive right to research, develop, manufacture and sell the pharmaceuticals that are identified through the collaboration.

“The collaboration with Pfizer means an acknowledgment for our research platform and expert knowledge within the ion channel field. This deal is a receipt of our belief that Saniona’s technology can provide valuable possibilities to create small molecules based medical treatments which can be outmost effective and specific,” said Saniona’s CEO Jørgen Drejer in a press release. “This deal is a way to fulfil one of our business goals, to finance part of our research through collaboration agreements with pharmaceutical companies.”

Saniona will according to the agreement get paid when certain milestones in research and development have been reached. They will also have royalty of potential products that Pfizer develops and sells following the collaboration. The value of the payments together with milestones before the launching phase potentially amount to a total of USD 52 million.

Furthermore, Saniona recently announced plans of listing their shares on AktieTorget in Sweden during the spring of 2014. The company’s roots are with NeuroSearch, which is listed on the Nasdaq OMX Copenhagen. In 2012, Saniona was bought out by its founders and NeuroSearch staff, along with a significant portfolio of research and drug projects.