BrainCells, Proximagen deal

BrainCells will acquire exclusive, worldwide rights to develop and commercialize Proximagen's sabcomeline. The selective muscarinic acetylcholine receptor M1 ( CHRM1; HM1) partial agonist is in Phase II testing to treat schizophrenia. BrainCells is responsible for developing and marketing sabcomeline, for which BrainCells expects to start Phase II testing to treat major depressive disorder (MDD) next year. Proximagen is eligible to receive up to $51 million in an upfront payment and milestones, plus royalties. Further financial terms were not disclosed. ...