Neurocrine Signs a License Agreement with Xenon to Develop Therapies for Epilepsy
Neurocrine Signs a License Agreement with Xenon to Develop Therapies for Epilepsy
Shots:
- Neurocrine to receive exclusive license to Xenon’s XEN901 including two preclinical candidates including selective Nav1.6 inhibitors and dual Nav1.2/1.6 inhibitors involving activities to discover, develop and identify additional novel Nav1.6 and Nav1.2/1.6 inhibitors
- Neurocrine Biosciences will fund all clinical developments costs associated with products including funding of 3 years research collaboration with a minimum of 10 FTEs while Xenon will be responsible for certain pre-clinical and a portion of certain near-term manufacturing costs
- Xenon to get $50M upfront including $30M in cash and $20M equity investment at Xenon/share price of $14.19, milestones $25M on IND acceptance of XEN901 including 55% equity investment at 15% premium, additional milestones of $1.7B related to XEN901, Nav1.6 or Nav1.2/1.6 candidates, royalties on sales. Xenon will also co-fund 50% of US cost for XEN901 and will receive 20% increased royalties for other candidates in the US
- XEN901 is a highly selective Nav1.6 sodium channel inhibitor developed to treat pediatric patients with SCN8A developmental and epileptic encephalopathy (SCN8A-DEE) and has completed its P-I trial with expected filing an IND application in mid- 2020
Click here to read full press release/ article | Ref: GlobeNewswire | Image: Twitter