As the first drug addressing a causal factor of the disease, GNbAC1 has the potential to radically change the way MS patients are treated.
GeNeuro will be responsible for the development of GNbAC1 until completion of Phase IIb, after which Servier can exercise the option to license the product for all markets excluding the USA and Japan.
Financial considerations include the payment by Servier to GeNeuro of US$47 million to finance the completion of Phase IIb.
Subsequent to exercising the option agreement, Servier will cover the costs of the Phase III global development program and pay GeNeuro up to US$408 million in future development and sales milestones, as well as royalties on future sales.
Servier will also have the option to take an equity stake in GeNeuro as a minority shareholder in the next 12 months.
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