Percheron Therapeutics Ltd has submitted a non-binding proposal to an international pharmaceutical company to in-license a new drug development program for a rare neurological disease.
The program is described as ‘clinic ready’ and prepared for human trials.
Negotiations for a definitive agreement are expected to take 8-12 weeks, with plans to begin human clinical trials in early 2026, subject to a successful investigational new drug (IND) application with the US Food and Drug Administration (FDA).
Percheron stated that investor interest in the company’s next steps remained high.
CEO Dr James Garner noted that extensive due diligence had been conducted across a broad range of programs, leading to discussions on business terms with the preferred candidate.
The company believes this represents a strong opportunity for shareholders.
Alongside preparing its IND submission, Percheron will continue assessing alternative clinical opportunities as a contingency measure and for potential future expansion.
The company intends to provide updates as discussions progress.