Praxis in strategic epilepsy pact with UCB for up to $100M potential

Praxis Precision Medicines 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 company 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 $100M, in addition to tiered royalties on net sales of any resulting products from the collaboration.