Boehringer, Arena strike CNS deal

Arena Pharmaceuticals Inc. (NASDAQ:ARNA) granted Boehringer Ingelheim GmbH (Ingelheim, Germany) exclusive, worldwide rights to drug candidates targeting an undisclosed GPCR. Boehringer will receive rights to Arena's existing compounds and IP targeting the receptor. The companies will jointly seek to identify additional candidates to treat psychiatric diseases including schizophrenia.

SVP of Operations and Head of Global Regulatory Affairs Craig Audet told BioCentury that Arena received $7.2 million up front and is eligible for $254.8 million in research funding and milestones from Boehringer, plus tiered royalties. ...