Partnership to advance small-molecule therapeutics for MS, other neuro conditions

U.K.-based biotechnology company Pheno Therapeutics announced it has entered into an exclusive worldwide license agreement with Belgian-based biopharmaceutical company UCB to deliver new therapeutics for neurodegenerative disease.

According to a release issued by Pheno, the new pact allows the company full access and rights to develop, manufacture and commercialize a preclinical-stage program of novel small molecules designed to promote remyelination for the treatment of neurological conditions like MS.

“Pheno Therapeutics utilized its proprietary human phenotypic screening platform to discover novel and tractable therapeutic targets to modulate oligodendrocyte biology and promote remyelination,” Fraser Murray, PhD, CEO of Pheno Therapeutics, stated in the release. “This license allows us to accelerate a promising drug target towards clinical development.”

Pheno stated in the release that it will make a one-time upfront payment for its role in development, manufacturing and global commercialization, while UCB is expected to receive milestones and tiered royalties on net sales.

“License agreements like this are a demonstration of the value UCB scientists and our partners are creating through strong research productivity, and we are confident that Pheno Therapeutics, with its expertise in phenotypic screening, stem cell technology and myelin biology, will develop this preclinical program to its full potential,” Dhaval Patel, executive vice president and chief scientific officer at UCB, said in the release.