- Neuren Pharmaceuticals (NEU) receives $145 million from its partner Acadia Pharmaceuticals to expand its North American drug license of trofinetide into global markets
- The company also stands to make up to $620 million from ongoing milestone payments and royalties
- Acadia’s internal projections predict sales of trofinetide will fetch net sales of up to $23 million in Q2 of this year and a further $45-55 million in Q3
- Acadia will sell trofinetide, marketed as DAYBUE, on behalf of Neuren in the US
- Neuren shares are up 14.7 per cent, trading at $13.35 at 11:57 am AEST
Neuren Pharmaceuticals (NEU) has announced its North American exclusive licence for the drug trofinetide has been expanded to a global licence.
The company will receive $145 million up-front and stands to earn up to $620 million in milestone payments plus royalties.
Neuren has been partners with the US-based and NASDAQ-listed Acadia Pharmaceuticals and it has maintained a solid relationship since 2018.
“The unique knowledge and expertise that the Acadia team has … as well as the established supply chain places them in the ideal position to achieve the optimum outcome globally for all stakeholders,” Neuren CEO Jon Pilcher said.
Acadia’s internal projections predict sales of trofinetide, to be called DAYBUE in the US, will fetch net sales of up to $23 million in Q2 of this year and a further $45-55 million in Q3.
Trofinetide is specifically used to treat one condition called Rett Syndrome, a rare and genetic neurological disorder affecting motor skills and language development.
Rett primarily affects women and is typically diagnosed in infants older than six months when symptoms emerge.
Neuren shares were up 14.7 per cent, trading at $13.35 at 11:57 am AEST.