- June 4, 2021
- Posted by: markets.businessinsider.com
- Category: Featured
(RTTNews) – Cyclerion Therapeutics Inc. (CYCN) said that it has reached a global license agreement with Akebia Therapeutics Inc., a biopharmaceutical company focused on kidney disease, for the development and commercialization of praliciguat, an oral sGC stimulator.
As per the terms of the deal, Akebia has obtained an exclusive license to research, develop and commercialize praliciguat globally and will be solely responsible for these activities going forward.
Cyclerion is eligible to receive up to $225 million in pre-commercial milestones, including up to $15 million in the first 18 months. Total potential future development, regulatory, and commercialization milestone payments could result in up to $585 million.
Cyclerion is also eligible to receive tiered, sales-based royalties ranging from single-digit to high-teen percentages.
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