Novartis Licenses Iloperidone From Titan

21 November 1997

Novartis has signed an agreement with Titan Pharmaceuticals of the USAfor worldwide rights to iloperidone, a new antipsychotic agent in clinical development for the treatment of schizophrenia and related psychotic disorders. In January 1997, Titan acquired an exclusive worldwide license to iloperidone from Hoechst Marion Roussel, which originally developed the product.

Iloperidone offers potent serotonin 5-HT2 receptor antagonism and also has some dopamine D2 receptor antagonist properties. Titan notes that Phase II data with the drug have shown that it has a very good safety and efficacy profile, with limited side effects compared to alternative treatments currently on the market. Novartis says it plans to begin Phase III trials with the drug before the end of the year.

$23 million Upfront Titan will receive an upfront payment of $18 million in license fees and reimbursement of R&D costs, and a $5 million equity investment. In addition, Novartis will make milestone payments of $5 million upon the first submission of a New Drug Application to the US Food and Drug Administration or European equivalent, and $10 million upon product approval. Novartis will fund Phase III clinical studies and registration costs for iloperidone on a global basis (except Japan), and Titan will receive royalties on net sales of the product.

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