Vanda regains Fanapt rights
December 23, 2014 at 17:19 PM EST
Vanda
Pharmaceuticals Inc. (Nasdaq: VNDA) will regain all U.S. and Canadian rights
to the schizophrenia treatment Fanapt from Novartis. Novartis will also
make a $25 million equity investment in Vanda and grant Vanda an
exclusive worldwide license to AQW051, a phase II alpha-7 nicotinic
acetylcholine receptor partial agonist. Shares of the biopharmaceutical climbed $1.67 to close at $13.58.