NsGene and Biogen Idec have signed a new commercialisation and license agreement on Neublastin, a novel therapeutic protein in clinical development for neuropathic pain
Biogen Idec and NsGene have executed a new and expanded agreement, which grants Biogen Idec exclusive global rights to commercialise Neublastin for all indications, and in all formulations. This agreement enables Biogen Idec to develop all Neublastin product opportunities and replaces a license and collaboration agreement from year 2000 under which Neublastin has been successfully brought into Phase I clinical development for the treatment of neuropathic pain. NsGene will receive development milestone payments in accordance with the agreement from year 2000. The expanded agreement secures NsGene an upfront payment of USD 6 million, and an annual maintenance fee of USD 1.5 million until acceptance of the first regulatory filing for approval with respect to a Neublastin product. The maintenance fee will be paid in those years in which NsGene does not receive a development milestone. In addition, NsGene will receive increased royalties on future sales of Neublastin products.