Friday, November 18, 2022
Marinus Pharmaceuticals, Inc., a pharmaceutical company dedicated to the development of innovative therapeutics to treat seizure disorders, today announced that it has entered into a collaboration and supply agreement with Tenacia Biotechnology (Shanghai) Co., Ltd., a China-based biotechnology company focused on the development of innovative treatments for central nervous system (CNS) disorders. Under the terms of the agreement, Tenacia will receive exclusive rights to develop and commercialize certain formulations of ganaxolone in Mainland China, Hong Kong, Macau and Taiwan, including the current oral and intravenous (IV) dose formulations and a right of first negotiation for a future next generation formulation or prodrug.
“This collaboration brings important synergies, combining ganaxolone’s differentiated mechanism of action with Tenacia’s CNS expertise and development capabilities in China to potentially expand the global reach of ganaxolone for patients with rare and debilitating seizure disorders,” said Scott Braunstein, M.D., Chief Executive Officer of Marinus. “Tenacia is expected to drive the development and commercialization of ganaxolone in China across our current focus areas of CDKL5 deficiency disorder, tuberous sclerosis complex and status epilepticus, and to potentially play a key role in the development of a next generation ganaxolone formulation.”
As part of the agreement, Marinus will receive $10 million in cash as an upfront payment and is eligible to receive up to an additional $256 million in cash milestone payments based on specific regulatory, clinical and commercial milestones, as well as tiered low double-digit royalty payments based on net sales.
“Partnering with Marinus to develop and commercialize ganaxolone in China positions us well to quickly become a pioneer in the development of treatments that target significant unmet medical needs for epilepsy patients,” said Dr. Xiaoxiang Chen, Chief Executive Officer of Tenacia Biotechnology. “As the clinical and regulatory landscapes in China continue to evolve to better support neuroscience drug development, we are confident this is the right time to enter the market. We look forward to collaborating closely with Marinus while exploring the full potential of ganaxolone.”
H.C. Wainwright & Co. acted as exclusive financial advisor to Marinus in connection with the collaboration.