Harmony Biosciences (HRMY) has entered into an exclusive licensing agreement with Bioprojet to develop and commercialize TPM-1116, a promising oral orexin-2 receptor agonist for treating narcolepsy and other sleep/wake disorders. Harmony will pay Bioprojet $25.5 million upfront, with potential future payments totaling up to $367.5 million based on development, regulatory, and sales milestones, plus mid-teen royalties on sales. This agreement aims to bolster Harmony's position in the sleep/wake disorder market by leveraging the potential of TPM-1116 to offer a best-in-class clinical profile.