Edison, Dainippon Sumitomo deal
Dainippon will pay Edison $10 million up front and $40 million in R&D support in exchange for exclusive rights in Japan and North America to develop and commercialize three compounds targeting cellular energy metabolism to treat adult CNS disorders. Edison will retain rights to the three compounds outside of Japan and North America and will retain worldwide rights to up to seven other jointly discovered compounds, which Dainippon will fund through IND filing. The partners will jointly discover the compounds against targets involved in the redox network, which controls energy metabolism. Dainippon also will purchase $50 million in preferred Edison stock and another $50 million at Edison's request.
Additionally, Dainippon gained rights to develop and commercialize Edison's EPI-589 in North America. Dainippon already has Japanese rights to the product under a March 2013 deal, in which Edison granted Dainippon rights to develop and commercialize EPI-743 and EPI-589 in Japan (see BioCentury, April 1, 2013). ...