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Mar 28, 2013

Edison Will Receive Up To $525M in Mitochondrial and CNS Disease Deal

  • Edison Pharmaceuticals entered into an R&D and commercialization agreement with Dainippon Sumitomo Pharma (DSP) for the development of EPI-743 and EPI-589 in Japan. Under the agreement, DSP will gain development and commercialization rights in Japan DSP in exchange for Edison potentially receiving up to $525 million. Edison will retain 100% ownership and direct all research, clinical, and commercial development of EPI-743 and EPI-589 outside of Japan.

    The initial scope of the transaction includes both pediatric orphan inherited mitochondrial and adult central nervous system diseases. Edison's translational platform is based on redox biochemistry, which consists of laboratory and clinical tools that enable the discovery, optimization, and clinical validation of redox-directed drugs.

    Edison will use proceeds derived from the partnership to advance the late-stage development and commercialization of EPI-743 for Leigh syndrome and Friedreich's ataxia, as well as to advance EPI-743 in other Phase II trials for rare pediatric diseases with shared mitochondrial mechanisms.

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