Acorda Therapeutics has entered biotech deals with NeurogesX for two neuropathic pain management assets .
Qutenza is approved by the U.S. Food and Drug Administration for the management of neuropathic pain associated with postherpetic neuralgia.
The Company also acquired NP-1998, a Phase 3 ready, prescription strength capsaicin topical solution, being assessed for the treatment of neuropathic pain, as part of the biotech deals.
NP-1998 was previously referred to as NGX-1998.
Acorda made an approximately $8 million payment to acquire development and commercialization rights for Qutenza and NP-1998 in the United States, Canada, Latin America and certain other territories, including $7 million paid to NeurogesX and approximately $900,000 for certain assumed accounts payable, as part of the biotech deals.
Acorda will also make up to $5 million in payments contingent upon the achievement of certain regulatory and sales milestones related to NP-1998, as part of the biotech deals.
Astellas Pharma Europe has exclusive commercialization rights for Qutenza in the European Economic Areaincluding the 27 countries of the European Union, Iceland, Norway, and Liechtenstein as well as Switzerland, certain countries in Eastern Europe, the Middle East and Africa.
Astellas also has an option to develop NP-1998 in those same territories.
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