Flexion in-licenses pain candidate from Xenon Pharma for up to $128M

Sep. 09, 2019 4:14 PM ETPacira BioSciences, Inc. (PCRX), XENEPCRX, XENEBy: Douglas W. House, SA News Editor
  • Flexion Therapeutics (NASDAQ:FLXN) inks an agreement with Xenon Pharmaceuticals (NASDAQ:XENE) for global rights the latter's NaV1.7 inhibitor XEN402 (now called FX301) for the potential management of postoperative pain via peripheral nerve blockade.
  • Flexion will be formulated for extended release on the basis of a thermosensitive hydrogel that forms shortly after the liquid is injected. Clinical trials should commence in 2021.
  • Under the terms of the deal, Flexion paid Xenon $3M upfront and will pay up to $9M in development and regulatory milestones through Phase 2, up to $40.75M in late-stage development and regulatory milestones, up to $75 in commercial milestones and mid-single-digit to low-double-digit royalties on net sales. Flexion will also assume the payment of low single-digit sales royalties to Teva Pharmaceuticals International GmbH.

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