Newron shares soar 60 pct on licence agreement

ZURICH Tue May 15, 2012 3:17am EDT

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ZURICH May 15 (Reuters) - Shares in Swiss pharmaceuticals company Newron leapt at the start of Tuesday trading after the company said it had reached a license agreement for its Parkinson's disease treatment safinamide with Zambon of Italy.

The company said it expects to file safinamide globally after completing Phase III studies in early and advanced Parkinson's disease patients.

Newron also said Chief Executive Luca Benatti will leave the company to pursue other, undisclosed opportunities at the end of May.

Shares were up 49 percent to 5.97 francs by 0715 GMT after opening more than 60 percent higher.

(Reporting by Martin de Sa'Pinto)

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