Lundbeck inks licence option deal with Contera Pharma

H. Lundbeck A/S has secured a licence option for Contera Pharma A/S RNA-targeting drugs. Under a licence option agreement Contera Pharma A/S, since 2014 a subsidiary of Korean Bukwang Pharmaceutical,  will apply its specialised RNA discovery platforms AttackPoint discovery, OligoDisc, and SpliceMatrix and expertise to identify and optimise disease-modifiying drug candidates against targets provided by Lundbeck. Through the collaboration, neurology specialist Lundbeck retains the option to advance these programmes into later-stage clinical development and global commercialisation.

Under the terms of the agreement, Contera Pharma will receive an undisclosed upfront payment and full research funding for each target. The company will also be eligible for milestone payments tied to pre-clinical, clinical, regulatory, and commercial achievements, along with tiered royalties on future net sales of any resulting products. Financial details of the deal were not disclosed.

Although no financial details were disclosed, a comparison with similar Lundbeck deals suggests that around US$10m upfront and US$100m in milestone payments per target can be expected after the option is exercised.