Shots:

• Neurocrine to receive exclusive license to Xenon’s XEN901 including two preclinical candidates including selective Nav1.6 inhibitors and dual Nav1.2/1.6 inhibitors involving activities to discover- develop and identify additional novel Nav1.6 and Nav1.2/1.6 inhibitors
•  Neurocrine Biosciences will fund all clinical developments costs associated with products including funding of 3 years research collaboration with a minimum of 10 FTEs while Xenon will be responsible for certain pre-clinical and a portion of certain near-term manufacturing costs
• Xenon to get $50M upfront including $30M in cash and $20M equity investment at Xenon/share price of $14.19- milestones $25M on IND acceptance of XEN901 including 55% equity investment at 15% premium- additional milestones of $1.7B related to XEN901- Nav1.6 or Nav1.2/1.6 candidates- royalties on sales. Xenon will also co-fund 50% of US cost for XEN901 and will receive 20% increased royalties for other candidates in the US
• XEN901 is a highly selective Nav1.6 sodium channel inhibitor developed to treat pediatric patients with SCN8A developmental and epileptic encephalopathy (SCN8A-DEE) and has completed its P-I trial with expected filing an IND application in mid- 2020

Click here to­ read full press release/ article | Ref: GlobeNewswire | Image: Twitter