Apnimed enters JV with Shionogi 

CAMBRIDGE, Mass. – Apnimed, a clinical-stage pharmaceutical company focused on developing oral pharmacological therapies for the treatment of obstructive sleep apnea, has announced a joint venture with Shionogi & Co., a pharmaceutical company based in Japan, to develop therapies to treat OSA and other sleep disorders. The joint venture, Shionogi-Apnimed Sleep Science, combines Apnimed’s deep knowledge of OSA, highly experienced clinical-stage drug development team and robust network of sleep medicine clinical sites with Shionogi’s highly efficient small molecule drug discovery engine and proven ability to create best-in-class compounds, according to a press release. “Apnimed and Shionogi look forward to working together to transform the treatment of sleep apnea,” said Larry Miller, MD, Chief Executive Officer of Apnimed. “This strategic collaboration builds on the strengths of both companies to accelerate the development of potential new treatments for the hundreds of millions of people worldwide with OSA who are looking for options that don’t require a device or surgery. Our new partnership is a win for Apnimed, Shionogi and, most importantly, patients.”  The joint venture is owned equally by Apnimed and Shionogi. In addition to making a cash contribution to fund the operations of Shionogi-Apnimed Sleep Science, Shionogi is making an equity investment in Apnimed. Both companies will share development responsibilities and benefit from joint venture products that reach the market. Apnimed’s lead programs, AD109 (now in Phase 3 trials) and AD504 (in Phase 2 trials), are not included in the joint venture.