Arvelle Therapeutics acquires exclusive rights to develop and commercialise Cenobamate in Europe from SK Biopharmaceuticals.
Global Banking News-February 14, 2019-Arvelle Therapeutics acquires exclusive rights to develop and commercialise Cenobamate in Europe from SK Biopharmaceuticals
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Biopharmaceutical company Arvelle Therapeutics GmbH reported on Wednesday an exclusive licensing agreement to develop and commercialise cenobamate in Europe in partnership with SK Biopharmaceuticals.
Cenobamate was reportedly discovered and developed by SK Biopharmaceuticals from inception through to the acceptance of a New Drug Application (NDA) by the US Food and Drug Administration (FDA).
According to the partnership, cenobamate is a novel, small molecule investigational antiepileptic drug for the potential treatment of partial-onset seizures in adult patients. Cenobamate is believed to work through two separate mechanisms: enhancing inhibitory currents through positive modulation of GABA-A receptors and decreasing excitatory currents by inhibiting the persistent sodium current.
Pursuant to the agreement, SK Biopharmaceuticals will receive an upfront payment of USD100m, eligible to receive up to USD430m upon achievement of certain regulatory and commercial milestones, additional royalties on net sales generated in Europe, retain commercial rights for all non-European territories as well as have an option to obtain a significant equity stake in Arvelle.
In conjunction with the agreement, Arvelle plans to file a Marketing Authorisation Application (MAA) for cenobamate for partial-onset seizures in adult patients based on the data generated from SK Biopharmaceuticals' global clinical trial programme.
Additionally, Arvelle received one of the largest initial financing commitments for a European-focused biopharmaceutical company from a global syndicate which includes NovaQuest Capital Management, Life Sciences Partners (LSP), BRV Capital Management, Andera Partners and HIG BioHealth Partners.
((Distributed via M2 Communications - http://www.m2.com))
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|Publication:||Global Banking News (GBN)|
|Date:||Feb 14, 2019|
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