July 1 (Reuters) – AlzeCure Pharma said on Wednesday it had entered an out-licensing and partnership deal with Danish biotech QuantumCell ApS valued at more than $2.2 billion, excluding royalty payments.
AlzeCure develops small-molecule drug candidates for central nervous system diseases with a focus on Alzheimer’s disease and pain.
• The deal covers global rights to AlzeCure’s Alzheimer’s platform NeuroRestore, including drug candidate ACD856.
• The drug candidate, currently in clinical development, helps protect nerve cells from damage, reduces inflammation, and slows or changes the progression of disease.
• “With this agreement we see the opportunity for the project’s assets to earlier reach and benefit several different patient groups,” CEO Martin Jönsson said.
• The drug’s pharmacological mechanism enables its application to multiple indications, such as Alzheimer’s and Parkinson’s diseases, but also depression.
• The Swedish biotech will receive a total upfront payment of $12 million, of which $5 million constitutes a direct investment in AlzeCure.
• The deal includes development and commercial milestone payments, as well as tiered single-digit to low double-digit royalties on sales.
(Reporting by Vera Dvorakova in Gdansk; Editing by Sonia Cheema)
