The specialist ion channel contract research and drug discovery company now owns all patented and unpatented intellectual property (IP) developed during the companies’ previous three-year collaboration.
"The compounds acquired are potent inhibitors of a potassium channel thought to be important in many autoimmune and neurological diseases. Metrion believes it can collaborate with pharmaceutical companies to realize enhanced value from these assets,” Keith McCullagh, chairman, Metrion Biosciences told Outsourcing-Pharma.com.
According to the company, the compounds did not meet JT’s criteria for product development, though Metrion has identified potential applications in various clinical indications, including auto-immune disorders and neurodegenerative diseases, such as Parkinson’s Disease and Alzheimer’s Disease.
JT will receive an upfront fee with potential milestone and/or royalty payments if further development and commercialization is successful.
Additional details of the deal were not disclosed.