The $150 million transaction supports early and clinical-stage pipeline development in OSA and related sleep disorders to find oral pharmacologic solutions for people who cannot use or tolerate current therapies.
Apnimed Inc, a clinical-stage pharmaceutical company focused on developing oral pharmacologic therapies for obstructive sleep apnea (OSA), announced a new joint venture with Shionogi & Co Ltd, a research-driven pharmaceutical company based in Japan, to develop novel pharmacologic therapies to treat OSA and other sleep disorders.
The newly formed joint venture, Shionogi-Apnimed Sleep Science LLC, initially focuses on accelerating the discovery, preclinical, and clinical development of novel pharmacologic solutions designed to address the complex pathology of OSA.
Shionogi-Apnimed Sleep Science combines Apnimed’s deep knowledge of OSA, experienced clinical-stage drug development team, and robust network of sleep medicine clinical sites with Shionogi’s small molecule drug discovery engine and ability to create best-in-class compounds.
The joint venture is owned equally by Apnimed and Shionogi.
In addition to making a cash contribution to fund the operations of the Shionogi-Apnimed Sleep Science JV, Shionogi is making an equity investment in Apnimed. Both companies will share development responsibilities and benefit from joint venture products that reach the market.
“Apnimed and Shionogi look forward to working together to transform the treatment of sleep apnea. This strategic collaboration builds on the strengths of both companies to accelerate the development of potential new treatments for the hundreds of millions of people worldwide with OSA who are looking for options that don’t require a device or surgery,” says Larry Miller, MD, chief executive officer of Apnimed, in a release. “Our new partnership is a win for Apnimed, Shionogi, and, most importantly, patients.”