Ap­n­imed and Sh­iono­gi cre­ate $150M joint ven­ture for sleep ap­nea

Cam­bridge, MA-based Ap­n­imed and Japan­ese phar­ma com­pa­ny Sh­iono­gi have formed a joint ven­ture to team up on ob­struc­tive sleep ap­nea, or OSA, and oth­er sleep dis­or­ders.

Ap­n­imed de­scribed it as a “$150 mil­lion trans­ac­tion” and said Tues­day night that Sh­iono­gi was con­tribut­ing cash to the JV and buy­ing eq­ui­ty in the biotech. Ap­n­imed de­clined to com­ment on the fi­nan­cial break­down of the deal.

The deal does not cen­ter around Ap­n­imed’s lead oral drug, AD109, which en­tered two large Phase III tri­als for OSA this fall as the biotech looks to take over the old and some­times in­ef­fec­tive method of us­ing CPAP ma­chines to off­set the dis­rup­tive con­di­tion. Nor does it in­clude Ap­n­imed’s oth­er clin­i­cal pro­gram, Phase II-stage AD504.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER