Praxis Precision Medicines and UCB Announce Epilepsy Research Collaboration
13 Décembre 2022 - 10:01PM
Praxis Precision Medicines, Inc. (NASDAQ: PRAX), a clinical-stage
biopharmaceutical company, and UCB (EURONEXT BRUSSELS: UCB), a
global biopharmaceutical company, today 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 leader 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 $100 million, in
addition to tiered royalties on net sales of any resulting products
from the collaboration. Further financial details of the agreement
were not disclosed.
“UCB is dedicated to the discovery and development of treatments
for epilepsy, including rare and genetic epilepsies, with an
ambition to develop solutions that move from symptomatic relief to
those that could address the root causes of disease,” said Dhaval
Patel, chief scientific officer of UCB. “Praxis’ genetics-driven
approach has led to compelling preclinical proof of concept, and we
look forward to progressing this novel research program together
for the benefit of individuals and families affected by this
devastating form of epilepsy.”
About PraxisPraxis Precision Medicines is a
clinical-stage biopharmaceutical company translating genetic
insights into the development of therapies for CNS disorders
characterized by neuronal excitation-inhibition imbalance. Praxis
is applying insights from genetic epilepsies to both rare and more
prevalent neurological disorders, using our understanding of shared
biological targets and circuits in the brain. Praxis has
established a broad portfolio including multiple programs across
movement disorders and epilepsy, with four clinical-stage product
candidates. For more information, please
visit www.praxismedicines.com and follow us
on LinkedIn and Twitter.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of The Private Securities Litigation Reform Act of 1995
and other federal securities laws, including express or implied
statements regarding Praxis’ future expectations, plans and
prospects, including, without limitation, statements regarding
Praxis’ strategic collaboration with UCB, as well as other
statements containing the words “anticipate,” “believe,”
“continue,” “could,” “endeavor,” “estimate,” “expect,”
“anticipate,” “intend,” “may,” “might,” “plan,” “potential,”
“predict,” “project,” “seek,” “should,” “target,” “will” or “would”
and similar expressions that constitute forward-looking statements
under the Private Securities Litigation Reform Act of 1995.
The express or implied forward-looking statements included in
this press release are only predictions and are subject to a number
of risks, uncertainties and assumptions, including, without
limitation, uncertainties related to activities with collaboration
partners and other risks concerning Praxis’ programs and operations
as described in its Quarterly Report on Form 10-Q for the quarter
ended June 30, 2022 and other filings made with the Securities and
Exchange Commission. Although Praxis’ forward-looking statements
reflect the good faith judgment of its management, these statements
are based only on information and factors currently known by
Praxis. As a result, you are cautioned not to rely on these
forward-looking statements. Any forward-looking statement made in
this press release speaks only as of the date on which it is made.
Praxis undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future developments or otherwise.
For further information:
Investor Contact - Praxis
Alex Kane
Praxis Precision Medicines
investors@praxismedicines.com
617-300-8481
Media Contact - Praxis
Ian Stone
Canale Communications
Ian.stone@canalecomm.com
619-849-5388
R&D Communications - UCB
Scott Fleming
Scott.fleming@ucb.com
+44 7702777378
Investor Relations - UCB
Antje Witte
antje.witte@ucb.com
+32.2.559.94.14
UCB (EU:UCB)
Graphique Historique de l'Action
De Oct 2024 à Nov 2024
UCB (EU:UCB)
Graphique Historique de l'Action
De Nov 2023 à Nov 2024