Japan’s Sosei allies with ex-Novartis team to develop neurological drug pipeline

TOKYO (Reuters) - Japan’s Sosei Group Corp said on Monday it is allying with a U.S. biotech run by former Novartis AG executives to commercialise a neurological drug pipeline.

Sosei declined to specify the deal size, but Senior Vice President Hironoshin Nomura said it could be similar to previous contracts with AstraZeneca Plc and Teva Pharmaceutical Industries Ltd that were in the $500 million range.

Sosei will join with Aditum Bio to form a new company named Tempero Bio to develop a drug pipeline from the compound known as HTL0014242, the companies said in a release. The drug is a selective mGlu5 negative allosteric modulator (NAM) and is now in phase 1 trials in the United States for the treatment of anxiety and substance abuse disorders.