Eisai licenses Solstice's NeuroBloc in EU in $56M deal

Malvern, Pennsylvania, USA-based Solstice Neurosciences and Japanese drugmaker Eisai have entered into a commercialization agreement for NeuroBloc (botulinum toxin type B) injectable solution, a purified formulation of the neurotoxin produced by the bacterium Clostridium botulinum for the treatment of cervical dystonia.

This agreement includes the 27 European Union countries, as well as Norway, Iceland, Liechtenstein, Monaco, Switzerland, Croatia, Turkey and Russia. In January 2001, the European Commission approved NeuroBloc, also known as Myobloc in the USA, for the treatment of this condition.

Under the terms of the deal, Solstice will receive up to 41.0 million euros ($55.7 million) from Eisai which includes an upfront payment as well as incremental development milestones. Solstice and Eisai will jointly develop the product for additional therapeutic indications in the territory. Further financial terms were not disclosed.