Boehringer writes off 42.5 million euros in handing back Kv3 rights
Autifony Therapeutics, a GlaxoSmithKline (LSE: GSK) spin-out specializing in CNS disorders, has regained full rights to its Kv3 program from German pharma major Boehringer Ingelheim.
Under the agreement, Autifony received a 25 million euros ($30 million) upfront sum, followed by 17.5 million euros in milestone payments during the option period.
Boehringer has decided not to exercise its option under the option for asset purchase agreement which was signed by the two companies in December 2017.
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