Neurocrine Biosciences exercises option to license Idorsia's novel treatment for rare pediatric epilepsy
- Neurocrine Biosciences to develop and commercialize ACT-709478, a clinical stage selective T-type calcium channel blocker for the treatment of a rare pediatric epilepsy ? Phase 2 study planned for the second half of 2020.
- Idorsia receives a $45 million upfront payment in cash.
- Idorsia will also be entitled to potential development and regulatory milestone payments up to $365 million and tiered royalties on net sales.
- ACT-709478 milestones:?In addition to the up-front payment, Idorsia may also receive up to $365 million in additional development and regulatory milestone payments. Furthermore, Idorsia may also be entitled to one-time commercial payments based on sales thresholds.
- ACT-709478 royalties:?Idorsia will have the right to receive a tiered royalty ranging from the low double-digits to upper teen percentage in the US and a tiered royalty at slightly lower rates outside the US based upon aggregate global net sales.
- Preclinical research collaboration:?The parties will work together to identify novel T-type channel blockers and explore their use in potential new disease states. Idorsia may be entitled to additional development, regulatory and commercial milestones as well as tiered royalties on annual sales for each product included in the research collaboration.
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