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Supernus to Acquire Epilepsy Treatment Developer Biscayne Neurotherapeutics for USD 15m Up Front.

M2 EQUITYBITES-September 20, 2018-Supernus to Acquire Epilepsy Treatment Developer Biscayne Neurotherapeutics for USD 15m Up Front


19 September 2018 - Maryland, US-based Supernus Pharmaceuticals, Inc. (NASDAQ: SUPN) has agreed to acquire epilepsy treatment developer Biscayne Neurotherapeutics (Biscayne), the company said.

The transaction, expected to close in the next few weeks, provides for an upfront payment of USD 15m payable by Supernus to the current Biscayne security holders.

Additional payments payable by Supernus include USD 73m contingent on achieving certain development milestones and up to USD 95m contingent upon achieving certain sales milestones.

Supernus will pay a low single digit royalty on net sales to Biscayne and any applicable royalties to third parties for the use of in-licensed IP.

The maximum combined royalty Supernus will pay to all parties is approximately 12%, depending on the IP covering the marketed product and the applicable tiered sales levels.

Supernus will obtain worldwide rights (excluding certain markets in Asia where rights have been out-licensed) to Biscayne's product candidate that is in Phase I clinical development and that has received an Orphan Drug designation from the US Food and Drug Administration for the treatment of Dravet Syndrome, a severe form of childhood epilepsy.

The company will also obtain rights to all the product candidate's underlying and related intellectual property.

Supernus Pharmaceuticals, Inc. is focussed on developing and commercialising products for the treatment of central nervous system diseases.

The company currently markets Trokendi XR (extended-release topiramate) for the prophylaxis of migraine and the treatment of epilepsy, and Oxtellar XR (extended-release oxcarbazepine) for the treatment of epilepsy.

Supernus Pharmaceuticals is also developing several product candidates to address large market opportunities in psychiatry, including SPN-810 for the treatment of impulsive aggression in ADHD patients and SPN-812 for the treatment of ADHD.

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Publication:M2 EquityBites (EQB)
Date:Sep 20, 2018
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