Business
VistaGen Therapeutics and EverInsight Therapeutics Enter Strategic Collaboration to Develop and Commercialize PH94B for Anxiety Disorders in Greater China, South Korea and Southeast Asia
Collaboration intended to support Phase 3 development and commercialization of PH94B in key Asian markets Agreement includes $5 million upfront payment and
About this update from Vistagen Therapeutics, Inc.
[{"type":"text","content":"Collaboration intended to support Phase 3 development and commercialization of PH94B in key Asian markets\n Agreement includes $5 million upfront payment and development and commercial milestones up to $172 million\n\n\nSOUTH SAN FRANCISCO, Calif. and SHANGHAI, June 25, 2020 /PRNewswire/ -- VistaGen Therapeutics (NASDAQ: VTGN), a clinical-stage biopharmaceutical company developing new generation medicines for anxiety, depression and other central nervous system (CNS) diseases and disorders with high unmet need, and EverInsight Therapeutics Inc., a biopharmaceutical company focused on developing and commercializing transformative pharmaceutical products that address critical unmet medical needs for patients in Greater China and other parts of Asia, today announced they have entered into a strategic licensing and collaboration agreement for the clinical development and commercialization of PH94B, VistaGen's novel, rapid-onset neurosteroid drug candidate for multiple anxiety-related disorders, in Greater China, South Korea and Southeast Asia. In December 2019, VistaGen received Fast Track designation from the U.S. Food and Drug Administration (FDA) for development of PH94B for treatment of social anxiety disorder (SAD), the FDA's first Fast Track designation for a SAD drug candidate. The goal of the collaboration is to advance and support Phase 3 development and commercialization of PH94B as a potentially groundbreaking anti-anxiety medicine for patients in Greater China and other important Asian markets.\n\n \n \n \n \n \n \n\n \nUnder the terms of the agreement, EverInsight will be responsible for clinical development, regulatory submissions and commercialization of PH94B neuroactive nasal spray for acute treatment of SAD, and potentially other anxiety-related indications, in markets in Greater China (Mainland China, Hong Kong, Macau and Taiwan), South Korea and Southeast Asia (Indonesia, Malaysia, Philippines, Thailand and Vietnam) (the Territory). EverInsight will make a non-dilutive upfront payment of $5 million to VistaGen, and VistaGen is eligible to receive additional development and commercial milestone payments of up to $172 million. VistaGen will receive tiered royalties on sales of PH94B in the Territory, if Phase 3 development efforts are successful. VistaGen retains exclusive rights to develop and commercialize PH94B ...