Date: 2011-10-20
Type of information: R&D agreement
Compound: botulinum toxins
Company: Ipsen (France) Syntaxin (UK)
Therapeutic area:
Type agreement: research - R&D - development - commercialisation
Action mechanism:
Disease:
Details: Ipsen and Syntaxin have announced a global strategic collaboration to explore the discovery and development of new compounds in the field of botulinum toxins. The partners will leverage their respective expertise in the field of botulinum toxin.Syntaxin will be responsible for the discovery of new therapeutic candidates and Ipsen will apply its skills to pharmacological, preclinical and clinical assessments of the newly discovered compounds. This development collaboration follows Ipsen’s strategic investment in Syntaxin during the Company’s Series C financing round completed in November 2010 and is the secondcollaboration between the two companies. Ipsen owns 0.8% ordinary shares of Syntaxin and 8.9% preferred share on a fully-diluted basis.
Financial terms: Under the terms of the agreement, Syntaxin is eligible to receive technology access fee, full time employee support, and research milestones amounting up to US$9 million in the first three years of the collaboration. Syntaxin is also eligible to receive additional license fees, development and regulatory milestones and potentially over US$90 million of commercial milestones together with royalties on net sales. In exchange, Ipsen will have exclusive worldwide development and commercialisation rights to the programmes discovered within the scope of the collaboration.
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