Shionogi gains Asian rights to SAGE-217

Shionogi & Co. Ltd. (Tokyo:4507) licensed exclusive rights to SAGE-217 from Sage Therapeutics Inc. (NASDAQ:SAGE) in Japan, Taiwan and South Korea to treat major depressive disorder (MDD).

Shionogi will pay Sage $90 million up front, with Sage eligible to receive development and commercial milestones of up to $485 million and tiered royalties averaging “in the greater than 20% range.” ...