Dutch biotech inks 500 million euros neurology deal

In one of the largest all-private licensing deals so far this year, worth around 500 million euros ($569 million), Netherlands-based Prilenia Therapeutics and Spain’s Ferrer today announced a co-development and commercialization agreement for Prilenia’s oral sigma-1 receptor agonist, pridopidine, for Europe and other select international markets.

As a result, Prilenia will receive an upfront payment of about 80 million euros plus up to 45 million euros in near-term development, regulatory, and commercial milestones. The total deal is valued at up to around 500 million euros in upfront and total milestone payments. In addition, Prilenia will receive tiered double-digit royalties on net sales. Prilenia and Ferrer have agreed to jointly develop and fund the expansion of pridopidine in the territory for additional indications beyond Huntingdon’s disease (HD). Prilenia will retain full rights to pridopidine in other major markets, including North America, Japan and Asia Pacific.

Prilenia retains full commercialization and development rights to pridopidine in North America, Japan and Asia Pacific. While currently approved therapies treat symptoms, pridopidine offers a promising approach to impact disease progression.