Cadent Therapeutics Receives Milestone Payment for Initiation of Phase 2 Trial of MIJ821 in Treatment-Resistant Depression

CAMBRIDGE, Mass.–(BUSINESS WIRE)–Cadent
Therapeutics, a company focused on the development of therapies to
improve the lives of patients with movement and cognitive disorders,
today announced the receipt of the second milestone payment from
Novartis following the initiation of a Phase 2 clinical study of MIJ821,
a subtype selective NMDA receptor negative allosteric modulator (NAM),
in development for treatment-resistant depression (TRD).

“We are excited to announce that Novartis has advanced MIJ821 to the
next stage of clinical development,” said Jodie Morrison, Chief
Executive Officer of Cadent Therapeutics. “MIJ821 is a selective and
potent NMDA receptor modulator that we believe will take both an
important and differentiated position in the treatment of treatment
resistant depression by building on the validated mechanism of NMDAr
modulation.”

Cadent Therapeutics exclusively licensed the intellectual property for
compounds that selectively modulate NR2B-containing NMDA receptors to
Novartis. This license included MIJ821 (CAD-9271). Novartis is
conducting all research and development for the program.

About Cadent Therapeutics

Cadent Therapeutics is creating therapies for the treatment of movement
disorders and cognitive impairment. The company combines target
specificity, patient selection, drug design and optimization, and novel
quantitative endpoints to create first-in-class molecules to treat
movement and cognitive disorders. Cadent Therapeutics is rapidly
advancing its pipeline of positive allosteric modulators to treat
spinocerebellar ataxia, essential tremor and schizophrenia. The company
has an exclusive license and collaboration agreement with Novartis to
develop a negative allosteric modulator, now in Phase 1 clinical studies
for the treatment of treatment resistant depression. Investors include
Atlas Venture, Cowen Healthcare Investments, Qiming Venture Partners,
Access Industries, Clal Biotechnology Industries, Novartis Institutes
for Biomedical Research and Slater Technology Fund. For more
information, please visit cadenttx.com.

Contacts

Investors:
Maeve Conneighton, [email protected]
212.600.1902

Media:
David Rosen, [email protected]
212.600.1902