Acorda Enters License Agreement For Nepicastat

(RTTNews) - Acorda Therapeutics, Inc. (ACOR) has entered into a license agreement relating to its preclinical asset, Nepicastat, with Asieris Pharmaceuticals. Nepicastat is a small molecule drug and the license agreement provides for its development for all non-psychiatric indications and therapeutic uses. The asset has been held by Acorda's U.S. subsidiary, Biotie Therapies, Inc.

Acorda will receive an upfront payment of $500 thousand, and up to an additional $7 million based on the achievement of regulatory milestones. The company will also receive a royalty on future net sales.

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