Arnold Bloch Leibler has acted for ASX-listed biopharmaceutical company, Neuren Pharmaceuticals (ASX: NEU), on the expansion of its exclusive licence to US-based Acadia Pharmaceuticals for its ‘trofinetide’ drug therapy.
Neuren’s North American trofinetide licence to Acadia (marketed in the US as DAYBUETM) has been expanded to a worldwide exclusive licence and will see Neuren receive a US$100 million payment up-front, plus additional potential milestone payments of up to US$427 million and royalties on net sales of trofinetide outside North America.
As quoted in an ASX release, Neuren Chief Executive Officer Jon Pilcher said: “We are very pleased to be able to expand our highly successful partnership with Acadia. The unique knowledge and expertise that the Acadia team has built from the successful development and commercialisation of DAYBUE™ in the United States, as well as the established supply chain, places them in the ideal position to achieve the optimum outcome globally for all stakeholders”.
ABL’s corporate team, led by Jane Sheridan, advised on the transaction. Jane Sheridan commented: “We are delighted to have assisted the Neuren team on the extension of their relationship with Acacia and we look forward to seeing more positive developments like this within the Australian biotech and pharmaceutical development sectors”.
Neuren Pharmaceuticals is developing new drug therapies to treat multiple serious neurological disorders that emerge in early childhood and have no or limited approved treatment options.