Gowling WLG’s advised Sosei Heptares on the deal.
Sosei Heptares on its collaboration with San Diego based Neurocrine Biosciences Inc to develop novel muscarinic receptor agonist compounds, in order to study the treatment for schizophrenia, dementia and other neuropsychiatric disorders.
Under the terms of the agreement Sosei Heptares receives US$100 million upfront, ongoing R&D funding, and up to US$2.6 billion in potential development, regulatory and commercial milestone payments, plus tiered sales royalties
The agreement allows Neurocrine Biosciences to access development and commercialization rights to a broad portfolio of novel compounds discovered by Sosei Heptares in development for the treatment of major neurological disorders. Sosei Heptares retains the rights to develop certain products in Japan with Neurocrine Biosciences receiving co-development and profit share options.
Sosei Heptares is a drug discovery and development company focused on creating new medicines to treat central nervous system disorders, cancer, metabolic and other diseases. It has partnerships with a number of major pharmaceutical and biotechnology companies, such as Allergan, AstraZeneca, MedImmune, MorphoSys, Pfizer and Teva, for the development of its novel drug candidates and technologies.
Patrick Duxbury (Picture), UK head of life sciences at Gowling WLG led on the negotiations with assistance from associate Jonathan Flower.
Law Firms: Gowling WLG;
Clients: Sosei Heptares;