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Redeye is intrigued by today’s news that Saniona has entered into a collaboration agreement with the UK-based biotech company AstronauTx, where the aim is to “ identify new treatments for Alzheimer’s disease and other neurodegenerative conditions by modulating a novel, undisclosed ion channel target”. A core focus will be to utilize Saniona’s proprietary IonBase platform. The deal value amounts to SEK 1.9bn (USD177m) plus royalties (if option is exercised) and Saniona expects to receive SEK15m in research funding during the first year. While this deal is in the research stage and likely won’t contribute to resolve Saniona’s cash needs in the near term, it is a welcome initial proof that Saniona can deliver on its new deal-focused business model and further shows the high optionality in Saniona's platform. We will return with an additional comment and also conduct a CEO interview during the week.
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