Vernalis, the biotech company formed from the merger of British Biotech and the original Vernalis, has bought back the rights to its migraine drug from Irish biotech firm Elan.
Vernalis, the biotech company formed from the merger of British Biotech and the original Vernalis, has bought back the rights to its migraine drug from Irish biotech firm Elan.
The drug, frovatriptan, is a selective serotonin reuptake inhibitor, and Vernalis is excited by the possibility of using it to help prevent menstrually associated migraine.
The company is now looking for a pharmaceutical partner to help it to exploit this potential and has no doubts that the drug will be ’attractive to a wide range of potential partners’.
Frovatriptan was launched in the US in the second quarter of 2002, where it is marketed as Frova by Elan.
The drug is currently in Phase III development for prophylaxis of menstrually associated migraine.
Vernalis will pay Elan $50m ( ca ?28m) over a period of 21 months. After this, all rights and all product information on frovatriptan currently held by Elan will revert to Vernalis. Elan will use the money to prepare for the launch of Antegren, its multiple sclerosis and Crohn’s disease drug.
Emma Davies
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