Pittsboro, NC – April 26, 2017 – Xenon Pharmaceuticals acquired rights to 1OP-2198, a next-generation Kv7.2/7.3 channel opener for the treatment of epilepsy, from 1st Order Pharmaceuticals, a company founded by Christopher Crean, Founder and Principal Consultant at Xyzagen.
Under the terms of the agreement, Xenon assumed financial obligations related to the program, including upfront and milestone-based payments tied to clinical development, regulatory approval, and commercial performance. The firm expects to make up-front and milestone payments of $1.1 million in 2017. Moving forward, payments due to 1st Order and the third party could include $1 million in clinical development milestones, up to $13 million in regulatory milestones, and up to about $33.6 million in sales-based and other milestones, plus sales royalties.
The acquisition highlights the advancement of the 1OP-2198 program and Christopher Crean’s experience in developing Kv7 channel therapeutics through key development milestones.
About Xyzagen, Inc.
Xyzagen augments a client’s pharmacology and pharmacokinetics drug development team. As a leading pharmacokinetics consultancy and contract research organization with wet lab and rodent vivarium facilities, Xyzagen is able to push model informed drug development into its First-in-Rat® and First-in-Mouse® discovery platforms as well as support late stage clinical noncompartmental PK, PopPK and Quantitative Medicine. Our knowledge in pharmacology and pharmacokinetics allows the client to expand their core scientific team during the critical period of candidate selection up to the PreIND meeting and through clinical development and the preNDA meeting. Xyzagen’s a boutique organization which allows small clients to work directly and strategically with experts during their drug development programs.
Media Contact:
Christopher Crean
Founder & CEO
Xyzagen, Inc.
Phone: 919-726-2072
Email: [email protected]
