Gowling WLG's life sciences experts have advised long-standing client Japan listed Sosei Heptares on its collaboration with San Diego based Neurocrine Biosciences Inc to develop novel muscarinic receptor agonist compounds, in order to study the treatment for schizophrenia, dementia and other neuropsychiatric disorders.
Under the terms of the agreement Sosei Heptares receives US$100 million upfront, ongoing R&D funding, and up to US$2.6 billion in potential development, regulatory and commercial milestone payments, plus tiered sales royalties
Patrick Duxbury, UK head of life sciences at Gowling WLG led on the negotiations with assistance from associate Jonathan Flower.
The agreement allows Neurocrine Biosciences to access development and commercialization rights to a broad portfolio of novel compounds discovered by Sosei Heptares in development for the treatment of major neurological disorders. Sosei Heptares retains the rights to develop certain products in Japan with Neurocrine Biosciences receiving co-development and profit share options.
Commenting, Patrick Duxbury said:
"While an estimated 55 million people worldwide suffer with dementia, there are currently few approved therapies available for the symptoms associated with these debilitating neurological diseases.
"However, through this collaboration, Sosei Heptares and Neurocrine take an exciting step closer to advancing the development and commercialisation of such treatments. We are thrilled to have been involved."
Sosei Heptares is a drug discovery and development company focused on creating new medicines to treat central nervous system disorders, cancer, metabolic and other diseases. It has partnerships with a number of major pharmaceutical and biotechnology companies, such as Allergan, AstraZeneca, MedImmune, MorphoSys, Pfizer and Teva, for the development of its novel drug candidates and technologies. Gowling WLG has worked with Sosei Heptares for the past 12 years, advising on a range of IP and collaboration matters.
Gowling WLG's Life Sciences team comprises almost 200 professionals in 18 offices around the globe with full-service expertise in IP, corporate, competition & EU, regulatory and dispute resolution matters. Patrick Duxbury has been named in Who's Who Legal: Thought Leaders Global Elite 2022 for 'Life Sciences – Transactional', recognising him among the top 2% of all Who's Who Legal-recognised legal practitioners from around the world.