Axsome licenses Sunosi to Pharmanovia for Europe/MENA; $66M upfront, up to $101M milestones

Axsome Therapeutics, Inc.

Axsome receives $66M upfront; eligible for up to $101M in sales-based and other milestones.
Pharmanovia gets exclusive rights to commercialize and develop Sunosi in Europe and MENA.
Axsome will earn a mid-twenties royalty percentage on net sales in the territory.
Pharmanovia assumes responsibility for all local clinical/regulatory activities, including pediatric studies.
Sunosi is approved in EU for EDS due to narcolepsy or OSA; deal expands access.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Axsome Therapeutics, Inc. entered into License Agreement with Atnahs Pharma UK Limited (Pharmanovia) valued at €62.0 million ($66.2 million) (effective 2023-02-21).

Action: entry
Agreement: license
Counterparty: Atnahs Pharma UK Limited (Pharmanovia)
Value: €62.0 million ($66.2 million)
Effective: 2023-02-21

Exact text from the filing

On February 21, 2023, Axsome Malta Ltd., a Malta limited company (“Axsome Malta”), a wholly-owned subsidiary of Axsome Therapeutics, Inc. (the “Company”), entered into a License Agreement (the “License Agreement”) with Atnahs Pharma UK Limited (Pharmanovia), a company organized and existing under the laws of England and Wales (the “Licensee”), pursuant to which Axsome Malta will license certain Licensed Intellectual Property (as defined in the License Agreement) to the Licensee and grant an exclusive license to Licensee in the Territory (as defined in the License agreement to include Europe and certain countries in the Middle East and Africa) for use of the Licensed Intellectual property for the development and commercialization of the Company’s Licensed Products (as defined in the License Agreement and which includes the Company’s product Sunosi®).

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Source: SEC EDGAR

accession 0000950170-23-003568

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