Marinus Pharma, Tenacia Biotech Ink Ganaxolone Agreement In China

Marinus Pharmaceuticals Inc MRNS has entered into a collaboration and supply agreement with Tenacia Biotechnology (Shanghai) Co., Ltd., a China-based biotechnology company focused on the development of treatments for central nervous system (CNS) disorders.
Under the terms of the agreement, Tenacia will receive exclusive rights to develop and commercialize certain formulations of ganaxolone in Mainland China, Hong Kong, Macau, and Taiwan, including the current oral and intravenous (IV) dose formulations and a right of first negotiation for a future next-generation formulation or prodrug.
Related: BARDA Exercises First Contract Option With Marinus Pharma For Its Epilepsy Candidate.
As part of the agreement, Marinus will receive $10 million in cash as an upfront payment and is eligible to receive up to an additional $256 million in cash milestone payments based on specific regulatory, clinical, and commercial milestones, as well as tiered low double-digit royalty payments based on net sales.
Price Action: MRNS shares are up 2.61% at $4.72 during the premarket session on the last check Thursday.