Digital therapeutics specialist MindMaze Therapeutics is selling off a pipeline program whilst also removing all non-neurology legacy operations from its recent merger with Relief Therapeutics.
Back in March, MindMaze unveiled U.S. expansion plans alongside evaluating strategic alternatives for parts of its business.
This came after the Swiss-based medtech was born via the merger of Relief Therapeutics and NeuroX to create and sell new digital treatments for neurological diseases late last year.
Now, we know what those “strategic alternatives” are. On June 2, the company said in a statement that it would sell the U.S. and Canadian rights to RLF-OD032, a form of sapropterin dihydrochloride being trialed in phenylketonuria, a rare genetic metabolic disorder.
It gets $3 million upfront for the deal and royalties on future sales.
MindMaze is also seeking the “disposal of all remaining non-neurology legacy operations acquired through the business combination with Relief Therapeutics,” according to the release, as it looks to cement its core focus in neurology.
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This should “simplify the organization,” the company said, whilst also cutting its cost base by around one-third. It did not say how many staffers would be impacted by these changes.
The company’s brain technology platform taps software, sensors and telehealth across clinic and home settings in treatment areas including stroke, Parkinson’s disease and at-risk aging. Meanwhile, MindMaze is also looking to move into multiple sclerosis, spinal cord injury, traumatic brain injury and Alzheimer’s disease.
The company currently markets several CE marked digital neurotherapeutics in Europe, including Izar for hand rehabilitation, MindPod for immersive therapy and MindMotion GO for gamified rehab.
