Herantis Pharma Plc (Herantis) announced that The Michael J. Fox Foundation for Parkinson?s Research (MJFF) and The Parkinson?s Virtual Biotech will together finance Herantis? Phase 1b clinical trial of HER-096 in Parkinson?s disease and the on-going biomarker project with research funding of EUR 3.6 million. The Phase 1b clinical trial aims to show that repeated subcutaneous doses of HER-096 are safe and well-tolerated in Parkinson?s patients, provide pharmacokinetics profile for planning HER-096 dosing in Phase 2, and collect exploratory biomarker data for future clinical trials.

The research funding will be paid in cash to Herantis over a two-year period, in three tranches, upon completion of agreed milestones. Repayment of the research funding will be triggered only if Herantis enters into a licensing or sub-licensing agreement or, if HER-096 generates product sales. Subject to the commercial success of HER-096, no more than 10% of the cash or non-cash consideration Herantis receives will be repaid to MJFF and Parkinson?s Virtual Biotech up until the maximum of four times the research funding received.