Grand Rapids’ Tetra Therapeutics Expands Alliance with Japan’s Shionogi to Develop Treatment for Cognitive Impairment

Tetra Therapeutics in Grand Rapids, a clinical stage biopharmaceutical company that develops treatments for patients with cognitive impairment and memory loss, has entered into an expanded alliance with Japan’s Shionogi, a pharmaceutical provider.
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Tetra Therapeutics has expanded its alliance with Shionogi. The companies are developing a treatment for Alzheimer’s disease and more. // Image courtesy of Tetra Therapeutics

Tetra Therapeutics in Grand Rapids, a clinical stage biopharmaceutical company that develops treatments for patients with cognitive impairment and memory loss, has entered into an expanded alliance with Japan’s Shionogi, a pharmaceutical provider.

Under the terms of the alliance, Shionogi has increased its equity investment in the company to 50 percent and has the option to complete a structured buyout of the remaining equity.

The companies plan to work to develop and commercialize BPN14770, a treatment for Alzheimer’s disease, Fragile X syndrome – a genetic condition that causes developmental problems – and more. Shionogi can complete the buyout if certain closing conditions are met based on the topline results of the company’s clinical Phase 2 PICASSO AD trial in patients with early Alzheimer’s disease, which is expected to read out later this month.

“This expanded alliance with Shionogi further validates our platform and the potential for BPN14770 to provide a new treatment option for patients suffering from Alzheimer’s disease,” says Mark Gurney, chairman and CEO of Tetra. “We are delighted to be expanding our collaboration with Shionogi and thank them for their continued conviction in our mission. We look forward to announcing topline results from our Phase 2 PICASSO AD trial in Alzheimer’s disease later this month.”

Tetra has completed enrollment in a Phase 2 study of BPN14770 in adults with Fragile X syndrome, and BPN14770 has received Orphan Drug Designation from the U.S. Food and Drug Administration. The Orphan Drug Act grants special status to a drug or biological product to treat a rare disease or condition upon request of a sponsor, according to the FDA.

“We are pleased to strengthen our strategic alliance with Tetra,” says Isao Teshirogi, president and CEO of Shionogi and Co. Ltd. “With the aging of our society, cognitive disorders are becoming a serious social issue. We believe BPN14770 has the potential to become an innovative new treatment to help solve for this issue. This new collaboration with Tetra reinforces our steadfast commitment to advancing cutting-edge science in central nervous system disorders including Alzheimer’s disease.”

Tetra also develops therapeutic products for people who have traumatic brain injury and other brain disorders. Shionogi is a pharmaceutical company.

Cooley, Honigman, and Nomura Securities International Inc. provided advisory services for the transaction.

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