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UCB Signs Up To $1.5 Bln Deal With Novartis To Co-develop Two Parkinson's Disease Drugs

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The Belgian pharmaceutical company, UCB (UCB.BR), said on Thursday that it has inked an agreement of up to $1.5 billion with Novartis(NVS) to co-develop and commercialize its two development stage Parkinson's disease drugs- UCB0599 and UCB7853.

According to the deal signed, UCB will receive an upfront payment of $150 million from Novartis. UCB is also eligible to receive further potential payments with a total consideration of nearly $1.5 billion upon receipt of certain regulatory approvals and meeting certain development and sales related targets.

If the proposed agreement is approved by the regulators, UCB will be the marketing authorization holder and commercial lead in Europe and Japan, and Novartis in the U.S. and all other territories, UCB said in a statement.

Dhaval Patel, Executive Vice President and Chief Scientific Officer at UCB, commented: "It is a great example of our approach to research and development in neurodegeneration, building external networks and partnerships to access additional capabilities and knowledge that help to accelerate the development of our medicines."

UCB0599 is a potential first in class, small molecule, alpha-synuclein misfolding inhibitor currently in Phase 2 clinical development, whereas UCB7853 is under Phase 1 program, an anti-alpha-synuclein antibody.

Under the terms of the deal, the both companies will co-develop and co-fund the further global development of UCB0599. Novartis also has the right to "opt-in" to engage in global co-development of UCB7853 upon completion of a Phase 1 study currently being run by UCB, the Brussels-headquartered company said in a statement.

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