Cynapsus Therapeutics

About Cynapsus Therapeutics

Cynapsus Therapeutics was a specialty pharmaceutical company focused on developing treatments for central nervous system disorders, particularly Parkinson's disease (PD). Founded in 2004 and based in Toronto, Canada, the company concentrated on creating a novel delivery method for apomorphine, a drug used to manage debilitating 'off' episodes in Parkinson's patients where motor functions are severely impaired.

The company's lead product candidate was APL-130277, a fast-acting, easy-to-use sublingual thin film of apomorphine designed for on-demand use. This formulation aimed to provide a more convenient and less invasive alternative to the existing subcutaneous injections of apomorphine, thereby improving patient adherence and quality of life. The sublingual delivery was developed to bypass the gastrointestinal tract, ensuring more rapid and reliable absorption into the bloodstream.

Under the leadership of President and CEO Anthony Giovinazzo, who was also a co-inventor of the APL-130277 intellectual property, Cynapsus advanced the product through significant clinical development milestones. The company successfully completed Phase 2 trials and was progressing through Phase 3 studies, which demonstrated that APL-130277 could rapidly convert patients from an 'off' to an 'on' state. The U.S. Food and Drug Administration (FDA) granted Fast Track Designation to APL-130277, highlighting the urgent need for such a treatment.

The company's business model was centered on developing APL-130277 and navigating the regulatory approval process with the intent of out-licensing it to a larger pharmaceutical partner for commercialization. In September 2016, this strategy culminated in a major success when Sunovion Pharmaceuticals, a U.S. subsidiary of the Japanese firm Sumitomo Dainippon Pharma, announced its acquisition of Cynapsus Therapeutics. The all-cash transaction was valued at approximately $635 million (CAD $841 million), making Cynapsus a wholly-owned subsidiary of Sunovion and leading to its delisting from the NASDAQ and Toronto Stock Exchange. The acquisition aligned with Sunovion's strategy to expand its neurology portfolio.