Percheron Therapeutics Ltd has submitted a non-binding proposal to an international pharmaceutical company to in-license a new drug development program focused on a rare neurological disease.
The company believes it is well placed to leverage its existing abilities and relationships due to the nature of the disease, the program for which is already ‘clinic ready’ and ready for human trials.
PER expects the negotiations for a definitive agreement to take 8-12 weeks, with plans to begin human clinical trials early in the 2026 calendar year, subject to the success of an investigational new drug (IND) application with the US Federal Drugs Administration (FDA).
Compelling value opportunity
“There is understandably a very high degree of investor interest in the company’s next steps,” said Percheron CEO Dr James Garner.
“I am pleased that we have made very good progress in conducting due diligence across an extremely broad range of programs and we have reached the point where we feel ready to discuss business terms with our preferred candidate, which we think represents a compelling opportunity for Percheron shareholders.
“We will endeavour to provide investors with as much visibility as possible as our discussions progress.”
Percheron has already begun planning for its IND submission to the FDA and will also continue evaluating alternative opportunities for clinical proposals in parallel, both as a contingency measure and for future expansion potential.