VistaGen out-licenses rights to anxiety disorder candidate in Asia territories

VistaGen Therapeutics (Nasdaq: VTGN), a US biotech with a pipeline focused on antidepressants,  and EverInsight Therapeutics have entered into a strategic licensing and collaboration agreement for the clinical development and commercialization of PH94B, VistaGen's novel, rapid-onset neurosteroid drug candidate for multiple anxiety-related disorders, in Greater China, South Korea and Southeast Asia.

In December 2019, VistaGen – whose shares were up 4.7% at $0.56 following the announcement yesterday - received Fast Track designation from the US Food and Drug Administration for development of PH94B for treatment of social anxiety disorder (SAD), the FDA's first Fast Track designation for a SAD drug candidate. The goal of the collaboration is to advance and support Phase III development and commercialization of PH94B as a potentially ground-breaking anti-anxiety medicine for patients in Greater China and other important Asian markets.

Financial terms of the deal