Lundbeck invests in Ossianix to focus on biotherapeutics for CNS disorders

Ossianix, Inc. today announced a strategic investment by H. Lundbeck A/S in the form of a Convertible Promissory Note. The proceeds from Lundbeck's investment is expected to allow Ossianix to generate biopharmaceuticals for the treatment of nervous system disorders by utilizing Ossianix's proprietary single domain antibody platform modeled on the shark vNAR structure. This will potentially give access to the development of novel differentiated CNS products. Lundbeck will retain the right to negotiate for certain products and technologies arising from the research at Ossianix.

"Lundbeck is a recognized leader in producing drugs for neurological and psychiatric disorders. We are very pleased that Lundbeck via this investment has chosen to further extend their involvement in the emerging field of biotherapeutics for CNS disorders," said Frank S. Walsh, CEO of Ossianix. "We also welcome Peter Høngaard Andersen, Senior Vice President, External Scientific Relations to the Board of Directors of Ossianix and we will benefit immensely from his wide experience within both Pharma and Biotech."

Peter Høngaard Andersen said, "We at Lundbeck look forward to following the development of Ossianix's exciting new technology. We wish to develop our biologics portfolio further and Ossianix's technology has the potential to tailor the power of the single domain antibodies to a variety of unique drug targets."