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Harmony Biosciences Acquires Asset With Novel Mechanism Of Action For The Potential Treatment Of Narcolepsy And Other Rare Neurological Diseases
Acquisition represents the first step in Harmony's plan to build a robust portfolio of products to treat patients living with rare neurological diseases who
About this update from Harmony Biosciences Holdings, Inc.
[{"type":"text","content":"Acquisition represents the first step in Harmony's plan to build a robust portfolio of products to treat patients living with rare neurological diseases who have significant unmet medical needs\n\n\nPLYMOUTH MEETING, Pa., Aug. 9, 2021 /PRNewswire/ -- Harmony Biosciences Holdings, Inc. (\"Harmony\") (Nasdaq: HRMY), a pharmaceutical company dedicated to developing and commercializing innovative therapies for patients living with rare neurological diseases, today announced the acquisition of HBS-102 (formerly CSTI-100), a potential first-in-class molecule with a novel mechanism of action, from ConSynance Therapeutics, Inc., a clinical stage biotechnology company focused on rare central nervous system diseases. Under the terms of the agreement, Harmony will acquire full development and commercialization rights globally, with the exception of Greater China, with financial terms including an upfront payment of $3.5 million and potential development and regulatory milestone payments and royalties.\n\n \n \n \n \n \n \n\n \n\"The acquisition of HBS-102 represents our first addition to the pipeline beyond WAKIX® (pitolisant), and our intention is to continue to pursue additional assets in line with our vision of becoming a leading rare neurological disease company with a robust portfolio of products,\" said John C. Jacobs, President and Chief Executive Officer of Harmony.\n\n HBS-102 is a Melanin Concentrating Hormone Receptor 1 (MCHR1) antagonist that has the potential to offer a novel approach to the treatment of narcolepsy including the symptoms of Rapid Eye Movement (REM) sleep dysregulation, such as cataplexy, hallucinations and sleep paralysis. HBS-102 blocks the activity of melanin concentrating hormone (MCH) neurons, which scientific evidence indicates is the generator of REM sleep and its associated behaviors. Therefore, HBS-102 could potentially reduce REM intrusions into wakefulness and reduce the frequency of cataplexy, hallucinations, and sleep paralysis. In a preclinical proof-of-concept study, Dr. Thomas Scammell, Professor, Department of Neurology, Beth Israel Deaconess Medical Center and Division of Sleep Medicine, Harvard Medical School, and his team demonstrated that an MCHR1 antagonist molecule resulted in a significant reduction in cataplexy events in an orexin knockout mouse model of narcolepsy.1 Harmony will comple...