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Xenon licenses sodium channel inhibitors to Neurocrine to fund more advanced epilepsy programs

December 3, 2019 1:08 AM UTC

Xenon has exclusively licensed its sodium channel inhibitors for epilepsy to Neurocrine to focus on advancing its potassium channel modulators through the clinic. The deal adds a new indication to Neurocrine's neurology portfolio and gives the company a stake in Xenon.

Xenon will receive $50 million up front, including $30 million in cash and $20 million through the sale of 1.4 million shares at $14.20, a 20% premium to its close of $11.83 on Nov. 29. Xenon is eligible for $1.7 billion in development and sales milestones plus tiered single- to double-digit royalties for up to four products...