VistaGen Therapeutics (NASDAQ: VTGN), a biopharmaceutical company developing new generation medicines for anxiety, depression and other central nervous system (“CNS”) disorders, was featured in a recent BioWorld article titled, “CBC-funded Affamed merges with Everinsight, extends portfolio with Kissei PD candidate.” The publication discusses the merging of Affamed Therapeutics Ltd., an emerging biopharmaceutical company focused on opthamology markets in Greater China and funded by the large global venture capital firm, CBC Group, and EverInsight Therapeutics Inc., a biopharmaceutical company focused on central nervous system disorders and also funded by CBC Group. EverInsight and VistaGen entered into an exclusive development and commercialization agreement for VistaGen’s PH94B neuroactive nasal spray, a Phase 3-entering drug candidate for treatment of social anxiety disorder, earlier this year (https://ibn.fm/W6BOk). Under that agreement, VistaGen received a non-dilutive upfront payment of $5 million and, if Phase 3 development is successful, is eligible for up to $172 million in development and commercial milestone payment, plus royalties on commercial sales. According to the article, Affamed aims to bring in late-stage assets for China and other Asian markets focused on central nervous system and ophthalmology. As a result of the merger, VistaGen will work closely with the combined Affamed/EverInsight team on Phase 3 development and commercialization of PH94B in Greater China, South Korea and Southeast Asia. As noted in the article regarding the Affamed/EverInsight merger: “’In addition to bringing together complementary businesses, the combination strengthens the combined company’s global R&D capabilities,’ Affamed’s CEO Dayao Zhao told BioWorld. After the merger, Affamed now has a neurosteroid nasal spray, PH94B, which is moving into phase III development for social anxiety disorder with licensing rights from Vistagen Therapeutics Inc. in greater China, Korea and Southeast Asia.”
To view the full article, visit https://ibn.fm/ZkMnj
About VistaGen Therapeutics
VistaGen is a clinical-stage biopharmaceutical company developing new generation medicines for anxiety, depression and other CNS disorders where the current standard of care is inadequate, resulting in high unmet need. Each of VistaGen’s three drug candidates has a differentiated mechanism of action, an exceptional safety profile in all studies to date, and therapeutic potential in multiple CNS markets. For more information, please visit www.VistaGen.com.
NOTE TO INVESTORS: The latest news and updates relating to VTGN are available in the company’s newsroom at https://ibn.fm/VTGN
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