NsGene A/S has announced that Biogen Idec has signed a new and expanded agreement, giving the US biotech exclusive global rights to commercialise Neublastin, a novel therapeutic protein for neuropathic pain, in all indications and all formulations.
This agreement replaces a license and collaboration agreement from 2000, under which Neublastin has been successfully brought into Phase I clinical development. NsGene will continue to receive development milestone payments in accordance with the 2000 agreement and with the expanded agreement gets a further upfront payment of $6 million, and an annual maintenance fee of $1.5 million, until acceptance of the first regulatory filing for a Neublastin product.
The maintenance fee will be paid in those years in which NsGene does not receive a development milestone. In addition, NsGene will receive increased royalties on future sales of Neublastin products.
Teit E. Johansen, CEO of NsGene, said, “NsGene is pleased to hand over the full control of the commercialisation of Neublastin to Biogen Idec. We are convinced that Biogen Idec is the right partner to fully exploit the value of this exciting molecule. This agreement is further evidence that our unique pipeline of proprietary neurotrophic factors continues to add value to NsGene and its shareholders.”