C4X Discovery signs licensing deal worth more than £200m
C4X Discovery, the Manchester-based drug research firm, has signed a licensing deal which could be worth £213m.
The deal has been struck with Indivior UK.
They plan to further develop and commercialise C4XD’s Orexin-1 receptor antagonist for the treatment of addiction.
C4X3256 aims to treat addiction by targeting the “craving” process itself and, therefore, can be applied across a broad range of substance use disorders.
The treatment of addiction represents a substantial area of unmet medical need, forecast to be worth an estimated £9.26bn per annum in 2018.
Under the terms of the agreement, C4XD will receive an upfront payment of £7.12m and could secure up to £202m of potential development, regulatory and commercialisation milestones in addition to royalties.
In turn, Indivior will receive a global and exclusive licence to Orexin-1 and all other compounds in the same patent family.
C4X3256 has the potential to represent a major new method of treating addiction and related disorders, says C4X Discovery.
Dr Clive Dix, chief executive of C4X Discovery, said: “Our goal is to drive returns through early-stage revenue-generating deals with the pharmaceutical industry.
“This agreement will allow us to accelerate the development of our portfolio to similar successful commercial arrangements and validates our business model.”