MinoryxTherapeutics, CataloniaBio & HealthTech member, a late-stage biotech company focused on the development of treatments for orphan central nervous system (CNS) disorders and the Neuraxpharm Group (“Neuraxpharm”), a leading European specialty pharmaceutical company focused on CNS therapies, announced the completion of a strategic license agreement.
Under the agreement, Minoryx grants Neuraxpharm exclusive European rights to its lead candidate leriglitazone, anovel, brain penetrant and selective PPAR gamma agonist. Neuraxpharm obtains exclusive rights to commercialize leriglitazone in Europe and will join with Minoryx to continue the further development of leriglitazone. Minoryx retains full rights to leriglitazone in the US and the rest of world, excluding already partnered China.
As part of the agreement, Neuraxpharm has agreed to pay Minoryx a significant double-digit up front payment in addition to milestone payments and development funding totalling up to EUR 258 million in the aggregate. Also, Minoryx will further receive material tiered double-digit royalties.
Minoryx and Neuraxpharm will collaborateon concluding the ongoing European regulatory process to obtain approval for leriglitazone for the treatment of adult male patients with X-ALD. Leriglitazone will be the first approved treatment for this population if it is approved by the European Medicines Agency (EMA).
“Minoryx remains fully committed to ensure that leriglitazone reaches X-ALD patients as quickly as possible. With the Neuraxpharm partnership Minoryx has secured a strong partner that will enable an optimal launch of leriglitazone throughout Europe. Minoryx selected Neuraxpharm specifically for its expertise in the European central nervous system marketplace and its substantial experience and capabilities in successfully commercializing CNS drugs in Europe,” said Marc Martinell, CEO, Minoryx. “Minoryx will continue the development and regulatory preparations for the US and is currently in discussions with the FDA to define the next stepsfor the US approval path.”
Comments