Axsome Therapeutics enters license agreement with Pharmanovia

Axsome Therapeutics announced that it has entered into an exclusive license agreement with Pharmanovia to commercialize and further develop Sunosi, the first and only dual-acting dopamine and norepinephrine reuptake inhibitor shown to improve wakefulness in adults living with excessive daytime sleepiness due to narcolepsy or obstructive sleep apnea, in Europe and certain countries in the Middle East and North Africa, MENA. Under the terms of the agreement, Pharmanovia will be responsible for marketing Sunosi in Europe and MENA regions and will assume responsibility for all local clinical and regulatory activities and requirements including studies in pediatric patients. Axsome will receive an upfront payment of $66 million and is eligible to receive sales-based and other milestones totaling up to $101M. Axsome will receive a royalty percentage in the mid-twenties on net sales. "We are pleased to collaborate with Pharmanovia, a company which shares our excitement and commitment to maximize the potential of Sunosi for patients worldwide," said Herriot Tabuteau, MD, Chief Executive Officer of Axsome. "Pharmanovia’s strong commercial platform is well suited to expand the availability of and access for this important treatment across Europe and MENA."