Axsome Inks License Pact With Pfizer on Narcolepsy, Fibromyalgia Candidates
January 13 2020 - 6:52AM
Dow Jones News
By Colin Kellaher
Axsome Therapeutics Inc. (AXSM) on Monday said it signed a
licensing agreement with Pfizer Inc. (PFE) covering drug candidates
to treat narcolepsy and fibromyalgia.
The New York clinical-stage biopharmaceutical company said
Pfizer will receive $11 million in Axsome stock and cash upfront,
along with up to $323 million in regulatory and sales milestone
payments.
Axsome said the agreement includes an exclusive U.S. license to
Pfizer's clinical and nonclinical data, as well as its intellectual
property, for reboxetine, the active ingredient in AXS-12, which
Axsome is developing for the treatment of narcolepsy.
Axsome said it also receives exclusive rights to develop and
commercialize esreboxetine, a new late-stage product candidate now
referred to as AXS-14, in the U.S. for the treatment of
fibromyalgia.
Axsome said it will issue $8 million in stock, along with $3
million in cash, to Pfizer, adding that the New York drug company
will have a right of first negotiation on any potential future
strategic transactions involving AXS-12 and AXS-14.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 13, 2020 06:37 ET (11:37 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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