Biotie acquisition discussions terminated
Milan, Italy, 28 October 2011 – Newron Pharmaceuticals S.p.A. (“Newron”), a research and
development company focused on novel CNS and pain therapies, today announces that the
ongoing talks with Biotie Therapeutics Corp. on the planned acquisition of Newron by Biotie have
been terminated.
Newron believes that regaining global commercial rights to safinamide, Newron’s lead treatment
for Parkinson’s disease currently in late phase III worldwide development, opens to the company
substantial opportunities to create value for its shareholders. JSB Partners has been mandated to
support Newron in this endeavour.
Based on the previously reported completion of enrolment of the Phase III MOTION and SETTLE
trials, these studies are scheduled to report results in first half of next year. These two trials were
designed to complete the planned Phase III development of safinamide as adjunctive treatment at
any stage of Parkinson’s disease, that was the basis for the registration programme agreed upon
with health authorities in key world markets.
Luca Benatti, Newron’s CEO, stated: “Regaining the global commercial rights to safinamide
provides Newron the opportunity to pursue all strategic options. We estimate that the registration
dossier will be ready for submission to health authorities in key world markets by the end of 2012.
To companies with commercial capabilities this offers an extremely attractive opportunity in a
focused specialist market”.
As a result, the EGM planned for Monday 31 October 2011 will no longer vote on the proposed
acquisition of Newron by Biotie. Attending Newron shareholders will be informed accordingly.
Biotie will be entitled to receive a break-up fee of €1.5m.
About Newron Pharmaceuticals
Newron Pharmaceuticals S.p.A. (www.newron.com) is a biopharmaceutical company focused on
novel therapies for diseases of the Central Nervous System and pain. Phase III trials of
safinamide are currently ongoing for the treatment of Parkinson’s disease (PD). Newron is
currently evaluating the clinical development of ralfinamide for pain and psychiatric diseases.
Newron’s additional projects are at various stages of preclinical and clinical development,
including HF0220 for neuroprotection, NW-3509 for the treatment of schizophrenia, as well as
pruvanserin and sarizotan for treatment of CNS diseases. Newron is headquartered in Bresso,
near Milan, Italy. The company is listed at SIX Swiss Exchange, trading symbol NWRN.
For more information, contact:
Media Investors and analysts
Italy
Luca Benatti – CEO
Phone: +39 02 6103 4 626
E-mail: pr@newron.com
Stefan Weber – CFO
Phone: +39 02 6103 46 30
E-mail: ir@newron.com
UK/Global media
Julia Phillips
Financial Dynamics
Phone: +44 (0) 20 7269 7187
Switzerland
Martin Meier-Pfister
IRF Communications
Phone: +41 43 244 81 40
Pharmaceutical companies
Wolfgang Stoiber
JSB Partners
Phone: +49 177 723 0152
Important Notices
This document contains forward-looking statements, including (without limitation) about (1) Newron’s ability
to develop and expand its business, successfully complete development of its current product candidates
and current and future collaborations for the development and commercialisation of its product candidates
and reduce costs (including staff costs), (2) the market for drugs to treat CNS diseases and pain conditions,
(3) Newron’s anticipated future revenues, capital expenditures and financial resources, and (4) assumptions
underlying any such statements. In some cases these statements and assumptions can be identified by the
fact that they use words such as “will”, “anticipate”, “estimate”, “expect”, “project”, “intend”, “plan”, “believe”,
“target”, and other words and terms of similar meaning. All statements, other than historical facts, contained
herein regarding Newron’s strategy, goals, plans, future financial position, projected revenues and costs and
prospects are forward-looking statements.
By their very nature, such statements and assumptions involve inherent risks and uncertainties, both general
and specific, and risks exist that predictions, forecasts, projections and other outcomes described, assumed
or implied therein will not be achieved. Future events and actual results could differ materially from those set
out in, contemplated by or underlying the forward-looking statements due to a number of important factors.
These factors include (without limitation) (1) uncertainties in the discovery, development or marketing of
products, including without limitation negative results of clinical trials or research projects or unexpected side
effects, (2) delay or inability in obtaining regulatory approvals or bringing products to market, (3) future
market acceptance of products, (4) loss of or inability to obtain adequate protection for intellectual property
rights, (5) inability to raise additional funds, (6) success of existing and entry into future collaborations and
licensing agreements, (7) litigation, (8) loss of key executive or other employees, (9) adverse publicity and
news coverage, and (10) competition, regulatory, legislative and judicial developments or changes in market
and/or overall economic conditions.
Newron may not actually achieve the plans, intentions or expectations disclosed in forward-looking
statements and assumptions underlying any such statements may prove wrong. Investors should therefore
not place undue reliance on them. There can be no assurance that actual results of Newron’s research
programmes, development activities, commercialisation plans, collaborations and operations will not differ
materially from the expectations set out in such forward-looking statements or underlying assumptions.
Newron does not undertake any obligation to publicly up-date or revise forward looking statements except as
may be required by applicable regulations of the SIX Swiss Exchange where the shares of Newron are
listed.
This document does not contain or constitute an offer or invitation to purchase or subscribe for any securities
of Newron and no part of it shall form the basis of or be relied upon in connection with any contract or
commitment whatsoever.