Zalicus Licenses Sodium Channel Pain Modulation Program To AnaBios - Quick Facts

(RTTNews) - Biopharmaceutical company Zalicus Inc. (ZLCS) Wednesday announced that it has licensed its Sodium Channel Modulator program, including intellectual property and related pipeline assets, to AnaBios Corp., in exchange for clinical milestone payments and royalties on potential future sales.

As per the terms of the agreement, Zalicus will be eligible to receive up to $17.2 million in clinical and regulatory milestone payments and up to 12% of net sales on any future products resulting from this license.

"AnaBios, with its proprietary Phase XTM technology platform supporting candidate selection and clinical development, is an ideal partner to advance these novel, oral, selective, state-dependent sodium channel blockers which represent a promising target for chronic pain," said Mark Corrigan, president and chief executive officer of Zalicus.

AnaBios is a unique contract research organization that will deploy assays and develop databases for the testing of efficacy and safety of drugs in development.