Servier shrugs off a multimillion-dollar investment, abandoning a failed MS drug developed by GeNeuro
Four years after Servier paid $44 million in cash for the option to partner with Geneva-based GeNeuro, the French biotech is shrugging off the investment of time and money and bowing out.
GeNeuro says that the move leaves them free to start new partnering discussions for the global rights to GNbAC1, an experimental drug for multiple sclerosis which failed a Phase IIb trial just 6 months ago. That trial, though, set up a $13.5 million milestone for the last patient visit that Servier was required to cover at the beginning of this year.
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