Date: 2016-01-20
Type of information: R&D agreement
Compound: small molecule therapeutics for neurological disorders, using ion channels and related technology platforms
Company: Saniona (Denmark) Upsher-Smith (USA - MN) Proximagen (UK)
Therapeutic area: Neurological diseases
Type agreement: R&D collaboration development
Action mechanism:
Disease: neurological diseases
Details: * On January 20, 2016, Saniona, a leading biotech company in the field of ion channels, and Upsher-Smith Laboratories, through its wholly-owned UK subsidiary Proximagen, announced that they have entered into a drug discovery and development collaboration. This collaboration will focus on research of new small molecule therapeutics for neurological disorders, using Saniona’s expertise in ion channels and related technology platforms. Under the terms of the agreement, Proximagen is granted exclusive worldwide rights to develop, manufacture and commercialise medicines identified through the collaboration. For Saniona, the total potential value of pre-commercial milestone payments is up to $30 million.
Financial terms: Saniona will receive upfront and research funding during the research period. Saniona expects to report approximately US$1.1 million in upfront and research funding under this agreement in 2016. Furthermore, Saniona will receive milestone payments upon the achievement of certain research, development and regulatory milestones. The potential value of the milestone payments is up to US$30 million. In addition, Saniona will receive tiered royalties on net sales of any potential products commercialised by Proximagen as a result of this collaboration
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