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SAN DIEGO and ALLSCHWIL, Switzerland , Jan. 10, 2020 /PRNewswire/ -- Neurocrine Biosciences, Inc. (NASDAQ: NBIX ) and Idorsia Ltd. (SIX: IDIA) announced an amendment to the agreement that was originally signed in 2019 granting Neurocrine Biosciences an option to license ACT-709478, a potent, selective, orally-active, and brain penetrating T-type calcium channel blocker, in clinical development for the treatment of a rare pediatric epilepsy. The option also includes a research collaboration to discover, identify and develop additional novel T-type calcium channel blockers.
Option and License Agreement Financial Terms In 2019, Neurocrine Biosciences paid a non-refundable $5 million upfront fee to Idorsia for the option rights to ACT-709478 and a preclinical research collaboration. Furthermore, Neurocrine has agreed to cover additional costs as part of the IND application. The agreement is subject to the following terms upon Neurocrine Biosciences exercise of the option:
About ACT-709478 and T-type Calcium Channel Blockers ACT-709478 is a potent, selective, orally-active, and brain penetrating T-type calcium channel blocker in development for epilepsy. A Phase I clinical trial was completed in healthy adult subjects in 2019. A Phase II study in a rare pediatric epilepsy is planned in 2H 2020.
About Neurocrine Biosciences Neurocrine Biosciences (Nasdaq: NBIX ) is a neuroscience-focused, biopharmaceutical company with more than 25 years of experience discovering and developing life-changing treatments for people with serious, challenging and under-addressed neurological, endocrine and psychiatric disorders. The company's diverse portfolio includes FDA-approved treatments for tardive dyskinesia and endometriosis* and clinical development programs in multiple therapeutic areas including Parkinson's disease, chorea in Huntington disease, congenital adrenal hyperplasia, epilepsy, uterine fibroids* and polycystic ovary syndrome*. Headquartered in San Diego , Neurocrine Biosciences specializes in targeting and interrupting disease-causing mechanisms involving the interconnected pathways of the nervous and endocrine systems. For more information, visit neurocrine.com , and follow the company on LinkedIn . (*in collaboration with AbbVie)
About Idorsia Idorsia Ltd is reaching out for more - We have more ideas, we see more opportunities and we want to help more patients. In order to achieve this, we will develop Idorsia into one of Europe's leading biopharmaceutical companies, with a strong scientific core.
Headquartered in Switzerland - a biotech-hub of Europe - Idorsia is specialized in the discovery and development of small molecules, to transform the horizon of therapeutic options. Idorsia has a broad portfolio of innovative drugs in the pipeline, an experienced team, a fully-functional research center, and a strong balance sheet – the ideal constellation to bringing R&D efforts to business success.
Idorsia was listed on the SIX Swiss Exchange (ticker symbol: IDIA) in June 2017 and has over 750 highly qualified specialists dedicated to realizing our ambitious targets.
Idorsia Forward-Looking Statements The above information contains certain "forward-looking statements", relating to the company's business, which can be identified by the use of forward-looking terminology such as "estimates", "believes", "expects", "may", "are expected to", "will", "will continue", "should", "would be", "seeks", "pending" or "anticipates" or similar expressions, or by discussions of strategy, plans or intentions. Such statements include descriptions of the company's investment and research and development programs and anticipated expenditures in connection therewith, descriptions of new products expected to be introduced by the company and anticipated customer demand for such products and products in the company's existing portfolio. Such statements reflect the current views of the company with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of the company to be materially different from any future results, performances or achievements that may be expressed or implied by such forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected.
SOURCE Neurocrine Biosciences, Inc.