Forest Takes Option On Trevena’s Heart Failure Drug, And Some Equity
This article was originally published in The Pink Sheet Daily
Already strong in both CNS and cardiovascular drugs, Forest obtained an option to license the Pennsylvania start-up’s lead program in acute heart failure. In the process, Forest took a stake in Trevena as the young company shifts its focus toward pain drugs based on Nobel Prize-winning research.
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Dissident shareholder Carl Icahn will have some influence on the succession process as the New York drugmaker seeks a replacement for its retiring octogenarian CEO. Forest still needs to compensate for the loss of blockbuster antidepressant Lexapro, and could consider a sale or dramatic restructuring.
The biotech has forged a partnership with NIH to discover and begin development of a biased ligand to the delta opioid receptor for the treatment of MDD.
With $35 Million B Round, Trevena to Push GPCR-Targeted Program into Phase II for Acute Heart Failure
Four investors returned to back the Duke University spinout, which is developing biased ligand small molecules.