Neurocrine Biosciences Inc NBIX:NASDAQ

Last Price$75.51NASDAQ Previous Close - Last Trade as of 3:57PM ET 1/26/22

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Neurocrine Biosciences, Sosei Heptares Team Up to Develop Treatments for Schizophrenia, Other Neuropsychiatric Disorders

9:48AM ET 11/22/2021 MT Newswires
Neurocrine Biosciences (NBIX) and Sosei Group said Monday they signed a collaboration and licensing agreement to develop new compounds for the treatment of schizophrenia, dementia and other psychiatric disorders.

Under the terms of the agreement, Sosei Heptares will receive an upfront payment of $100 million and will be eligible for up to $2.6 billion in potential milestone payments. It will also receive tiered sales royalties ranging from high single-digit to mid-teen percentage on the future sales of any products developed under the partnership, the companies said.

Neurocrine Biosciences will obtain development and commercialization rights to a portfolio of clinical and preclinical compounds discovered by Sosei Heptares as potential treatments for neurological disorders.

For the most advanced program, HTL-0016878, Neurocrine Biosciences plans to submit an investigational new drug application and launch a placebo-controlled phase 2 study as a potential treatment for schizophrenia in 2022, the company said.

Under the agreement, Sosei Heptares has retained the right to develop compounds in Japan in all indications, while Neurocrine Biosciences will receive co-development and profit share options.

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