NeuroSense Therapeutics Ltd, a late-clinical stage biotechnology company developing novel treatments for severe neurodegenerative diseases, announced that it has entered into a binding term sheet with a leading global pharmaceutical company to advance the development and commercialization of PrimeC, its proprietary treatment drug for amyotrophic lateral sclerosis (ALS) in certain key territories. NeuroSense would retain full rights to PrimeC in other key territories.
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The binding term sheet outlines substantial financial terms from the pharmaceutical company, including:
- A substantial upfront payment upon signing a definitive agreement,
- Funding for the Phase 3 clinical trial,
- Regulatory and net sales milestone payments, and
- A tiered royalty structure reaching double-digit percentage on annual net sales.
The binding term sheet is subject to finalization of a definitive agreement, anticipated in the first quarter of 2025.
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The pharmaceutical company would have an exclusive license to distribute, market, promote, sell and develop PrimeC for ALS in certain key markets, and non-exclusive rights for research and manufacturing for PrimeC for ALS, subject to terms and conditions in the definitive agreement.
PrimeC is a proprietary fixed-dose combination of two FDA-approved drugs, uniquely formulated to enhance bioavailability and provide synergistic effects that target multiple ALS disease pathways. Results from NeuroSense’s Phase 2b PARADIGM clinical trial demonstrated positive safety and efficacy, strengthening confidence in its potential to address the urgent unmet medical need in ALS.
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Source – prnewswire
