UCB acquires rights to epilepsy therapy for up to $370 million

20 April 2018

UCB (Euronext Brussels: UCB) today announced an agreement to acquire the rights to UK-based CNS and inflammatory diseases specialist Proximagen’s midazolam nasal spray (USL261), an anti-epilepsy drug (AED) developed as an intended rescue treatment for acute repetitive seizures (ARS, also known as serial, recurrent or cluster seizures) in patients with epilepsy.

USL261is a novel investigational midazolam formulation, which has been specifically designed for intranasal delivery without active inhalation. It has been granted orphan drug designation and fast track designation by the US Food and Drug Administration, reflecting the significant unmet need which currently exists for ARS rescue treatment.

Under the terms of the agreement, UCB – Belgium’s largest drugmaker - will make an upfront cash payment of $150 million. In addition, Proximagen, a wholly-owned subsidiary of Upsher-Smith Laboratories, is eligible to receive contingent payments of up to $220 million based on certain regulatory approval and sales-based milestones.

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