Xenon Acquires Next-Generation Epilepsy Drug from 1st Order Pharmaceuticals

1st Order acquired 1OP2198 from an undisclosed third party, and Xenon will have to honor financial responsibilities under that deal. 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.

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