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Raptor Pharmaceutical Corp.
Drug Names(s): NGX424, LY293558
Description: Tezampanel is a AMPA/kainate (AK) receptor antagonist. AK receptor antagonists selectively block transmission of pain signals mediated through the activation of glutamate receptors.
TorreyPines and Eli Lilly
In April 2003, TorreyPines Therapeutics (TPTX) entered into an agreement with Eli Lilly to obtain an exclusive license to Eli Lillys AMPA/kainate, or AK, antagonist assets including tezampanel and NGX426. TPTX paid Eli Lilly an up-front license fee of $6 million under the agreement. If specified development, regulatory and commercial milestones are achieved, TPTX will be obligated to make milestone payments to Eli Lilly. TPTX is also obligated to pay royalties to Eli Lilly on any sales of tezampanel and NGX426.
In November 2008, TorreyPines Therapeutics announced that it has purchased from Eli Lilly a reduction in certain royalty amounts that may become payable to Eli Lilly on net sales of TorreyPines clinical-stage compounds NGX426 and tezampanel, should either or both gain regulatory approval. Specifically, the top tier royalty rate will be reduced three percentage points and the middle tier royalty rate will be reduced one half percentage...See full deal structure in Biomedtracker
Partners: Eli Lilly & Company
Pink Sheet TorreyPines Cuts Jobs As Eisai Deal Ends
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