Praxis Precision Medicines Announces Licensing And Collaboration Agreement With Tenacia Biotechnology For Ulixacaltamide In Greater China; To Receive Proceeds Of $15M And Eligible To Receive Up To $264M In Milestone Payments As Well As Tiered Royalties
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Praxis Precision Medicines, Inc. has entered into a licensing and collaboration agreement with Tenacia Biotechnology for the development and commercialization of ulixacaltamide in Greater China. Praxis will receive $15 million upfront, with the potential for up to $264 million in milestone payments and tiered royalties on net sales. The collaboration aims to address the unmet need for essential tremor treatments in the region.
January 05, 2024 | 1:08 pm
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Praxis Precision Medicines has secured a significant partnership with Tenacia Biotechnology, including an upfront payment of $15 million and potential future milestone payments of up to $264 million, plus royalties. This deal could provide a substantial financial boost and facilitate the expansion of ulixacaltamide in Greater China.
The agreement with Tenacia Biotechnology is directly related to Praxis and is a significant financial event due to the upfront payment and potential for substantial milestone payments. This partnership is likely to be viewed positively by investors as it not only provides immediate cash inflow but also opens up a large market in Greater China for ulixacaltamide, potentially enhancing Praxis's revenue stream in the future.
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