Tenacia, a central nervous system (CNS) specialist incubated by Bain Capital, has entered into an exclusive cooperation and licensing agreement with US-based Praxis Precision Medicines Inc. (NASDAQ: PRAX). The Shanghai-based firm has been granted the rights to develop and commercialize ulixacalamide for the treatment of essential tremor in Greater China.
As per the terms of the agreement, Praxis will receive an upfront payment of USD 15 million, which includes USD 5 million in cash and a USD 10 million equity investment. Additionally, Praxis is eligible to receive up to USD 264 million in development, regulatory, and commercial milestone payments, as well as tiered royalties on future net sales of ulixacalamide in the region.
Ulixacaltamide is a highly selective small-molecule inhibitor of T-type calcium channels, designed to block abnormal neuronal burst discharges in the cerebellar thalamic cortical (CTC) circuit, which is associated with tremor activity. The drug is currently undergoing a Phase III clinical study in the US for the treatment of essential tremor, a common neurological disorder characterized by involuntary tremors in the hands, head, or other parts of the body during movement or at rest.- Flcube.com
