Neurocrine Biosciences, Idorsia Amend Option Agreement To License ACT-709478

(RTTNews) - Neurocrine Biosciences, Inc. (NBIX) and Idorsia Ltd. have amended their 2019 agreement granting Neurocrine Biosciences an option to license ACT-709478, a potent brain penetrating T-type calcium channel blocker in development for epilepsy.

Upon Investigational New Drug application acceptance by the FDA, expected in mid-2020, Neurocrine Biosciences will have 30 days to exercise the option to license ACT-709478. If the option is exercised by Neurocrine Biosciences, Idorsia will receive an upfront payment of $45 million. Idorsia may also receive up to $365 million in additional development and regulatory milestone payments.

Also, Neurocrine Biosciences will provide an incremental $7 million in funding to Idorsia as part of the research collaboration.