Neurocrine is beefing up its pipeline, splurging $50M on rights to an epilepsy drug
Neurocrine has stepped up with $50 million in cash and a bundle of biobucks to bag rights to an early-stage epilepsy drug out of Xenon Pharmaceuticals.
Neurocrine $NBIX is forking over the cash in an upfront and equity stake in exchange for an exclusive license to XEN901, a Nav1.6 sodium channel inhibitor. The deal also covers preclinical drugs in the same pathway along with dual Nav1.2/1.6 inhibitors.
Then there’s another $25 million near-term payment based on an FDA acceptance of their IND. And Xenon $XENE is hanging on to an opt-in on the research costs that would significantly broaden their royalty take — if approved.
There’s plenty still on the table, with the partners agreeing to $1.7 billion for their all-inclusive milestone payments based on the prospect of a success.
Xenon CEO Simon Pimstone gave the deal an enthusiastic thumbs up, adding that they’ll be spending the money to beef up their own pipeline building projects.