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Tenacia Acquires China Rights to Tremor Therapy from Praxis in $279 Million Deal

publication date: Jan 8, 2024

Tenacia Biotechnology (Shanghai) acquired greater China rights to a clinical-stage therapy for essential tremor from Boston’s Praxis Precision Medicines in a $279 million agreement. Praxis says ulixacaltamide is a differentiated, highly selective small molecule inhibitor of T-type calcium channels, currently in Phase II trials. It is designed to block abnormal neuronal burst firing in the Cerebello-Thalamo-Cortical circuit that is correlated with tremor activity. Tanacia, a CNS company, paid $15 million upfront, consisting of a $5 million initially and a $10 million investment in Praxis. It will pay up to $264 million in milestones, plus royalties. More details....

Stock Symbol: (NSDQ: PRAX)

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