Neuren Pharmaceuticals Wins European Approval for Daybu
Synopsis
Neuren Pharmaceuticals has received final European approval for Daybu, allowing the Rett syndrome treatment to be sold across the EU and several other European countries.
Key Highlights
- European Commission approves Neuren Pharmaceuticals’ Daybu.
- Daybus Approved in Europe for Treating Rett syndrome.
- The endorsement is valid across all 27 EU member states by itself and also Iceland, Norway and Liechtenstein.
- Further sales-related payments of up to US$170 million, plus royalties, available to Neuren.
European Approval
Neuren Pharmaceuticals recently received final European Commission approval to market Daybu in Europe. It’s the first and only treatment approved in the European Union for Rett syndrome. Daybu can be marketed in all 27 countries of the Economic Area - including Iceland, Norway and Liechtenstein.
Payments for Neuren
Neuren will earn a US$35 million milestone payment (equivalent to about A$54 million) under its agreement with Acadia Pharmaceuticals, following the first commercial sale of Daybu.
If sales meet agreed milestones, the company is also entitled to as much as another US$170 million in milestone payments. Neuren will also earn royalties based on Daybus sales.
What Neuren Said
Neuren chief executive Jon Pilcher, said the approval was particularly rewarding for Neuren due to the company’s long term efforts to develop drugs for serious neurological diseases and unmet needs.
Source: Capital Brief
At Inspirepreneurs Magazine, covering entrepreneurship, business failures, and the human stories behind the world's most ambitious founders. She writes at the intersection of strategy and storytelling.
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