By Connor Hart
Neurocrine Biosciences amended its agreement with Takeda Pharmaceutical regarding the development and commercialization of osavampator, a treatment for major depressive disorder.
The San Diego biopharmaceutical company said Monday it will obtain exclusive rights for the drug in all territories worldwide except Japan, where Takeda will reacquire exclusive rights. Under the updated agreement, each company is responsible for development costs in their respective regions, and both companies are eligible to receive royalty payments.
Chief Executive Kyle Gano said the new terms will streamline the collaboration structure, hopefully bringing the treatment to market faster.
Neurocrine and Takeda, which is headquartered in Osaka, Japan, entered an agreement to develop and commercialize compounds for treatment of depression and schizophrenia in 2020.
Osavampator is a potential treatment for major depressive disorder for patients who haven't benefited from treatment with at least one antidepressant in their current episode of depression, Neurocrine said. The company plans to initiate a Phase 3 trial for the drug in the first half.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
January 27, 2025 17:21 ET (22:21 GMT)
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