UCB and Praxis Precision Medicines Announce Epilepsy Research Collaboration
BRUSSELS (Belgium) and BOSTON, Massachusetts (USA), December 13th, 2022 (22:01 CET) — UCB, a global biopharmaceutical company (EURONEXT BRUSSELS: UCB), and Praxis Precision Medicines, Inc. (NASDAQ: PRAX), a clinical-stage biopharmaceutical company, today announced a strategic collaboration, based upon Praxis’ PRAX-020 program, for the discovery of small molecule therapeutics as potential treatments of KCNT1 related epilepsies.
“We are excited to partner with UCB, a global leader in epilepsy drug development, as we work together toward a novel approach for the treatment of KCNT1 related epilepsy, which has no approved therapies currently,” said Marcio Souza, president and chief executive officer of Praxis. “Our internal research efforts give us confidence that small molecules can selectively inhibit the KCNT1 channel, and potentially could be an effective treatment for individuals suffering from KCNT1 related epilepsy. The collaboration with UCB validates this approach and will allow us to accelerate efforts toward a potential treatment for KCNT1 patients.”
Under the terms of the collaboration, UCB retains an exclusive option to in-license global development and commercialization rights to any resulting KCNT1 small molecule development candidate. Praxis will receive an upfront payment from UCB, and if the option is exercised by UCB, would be eligible to receive an option fee and future success-based development and commercialization milestone payments, for a total of up to approximately $100 million, in addition to tiered royalties on net sales of any resulting products from the collaboration. Further financial details of the agreement were not disclosed.
“UCB is dedicated to the discovery and development of treatments for epilepsy, including rare and genetic epilepsies, with an ambition to develop solutions that move from symptomatic relief to those that could address the root causes of disease,” said Dhaval Patel, chief scientific officer of UCB. “Praxis’ genetics-driven approach has led to compelling preclinical proof of concept, and we look forward to progressing this novel research program together for the benefit of individuals and families affected by this devastating form of epilepsy.”
UCB, Brussels, Belgium (www.ucb.com) is a global biopharmaceutical company focused on the discovery and development of innovative medicines and solutions to transform the lives of people living with severe diseases of the immune system or of the central nervous system. With more than 8,600 people in approximately 40 countries, UCB generated revenue of €5.8 billion in 2021. UCB is listed on Euronext Brussels (symbol: UCB). Follow us on Twitter: @UCB_news
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