FinTechFunding

Neuren Pharmaceuticals: Receives US$10m milestone payment

Neuren Pharmaceuticals Receives US$10m milestone payment

  • Neuren Pharmaceuticals (NEU) receives a US$10 million (A$16 million) milestone payment from its partner, Acadia Pharmaceuticals
  • The payment follows the US FDA’s acceptance for review of Acadia’s new drug application for trofinetide, which works to treat Rett syndrome
  • Acadia has exclusive rights to develop and commercialise trofinetide in North America, while Neuren holds all rights to the treatment outside of this
  • If the new drug application (NDA) is approved by the FDA, the next potential milestone payment to Neuren would be US$40 million (A$62 million), which would be payable following the first commercial sale of trofinetide in the United States
  • NeurenPharmaceuticals dips 0.13 per cent to trade at $7.51 at 1:00 pm AEDT
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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