Teva Pharmaceutical Industries, a top 50 big pharma, entered in a pharma partnering with Xenon Pharmaceuticals for development and exclusive worldwide licensing rights for XEN402.
XEN402 is currently in clinical development for a variety of painful disorders.
Teva will pay Xenon an upfront fee of $41 million, as agreed in this pharma partnering deal.
Also stated in this pharma partnering agreement is a clause that requires Teva to pay development, regulatory, and sales-based milestones totaling up to $335M in addition to the upfront fee.
Xenon is entitled to royalties payable on sales and an option to participate in commercialization in the U.S.
For further deal information visit Current Agreements (subscription required)
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