Astellas and Chromocell Enter License and Collaboration Agreement for Neurophatic and Pain Therapeutics

Astellas Pharma Inc. (OTCMKTS:ALPMY) and Chromocell Corporation announced a license and collaboration agreement for the development and commercialization of therapeutics for the treatment of neuropathic and other pain conditions.
As quoted in the press release:

Astellas obtains worldwide rights to commercialize CC8464 and back-up drug candidates to treat pain that have been identified through Chromocell’s Chromovert® technology platform. Chromocell receives $15 million as an up-front payment and is eligible to receive over $500 million, including development and commercial milestones, as well as double digit royalties on sales if CC8464 is successfully commercialized. Chromocell will conduct all development of CC8464 through the initial Phase 2a proof-of-concept clinical trial in neuropathic pain. Astellas will lead all further development activities through to commercialization of CC8464 for the treatment of peripheral neuropathic pain. Aside from those development activities, Chromocell may propose, and may initiate, studies for certain additional indications such as rare diseases and non-oral formulations of the drug candidate. Astellas has the right to opt-in for development for such additional indications, which triggers additional payments to Chromocell, and, in certain cases, co-promotion rights in the U.S.
NaV1.7 is an ion channel, involved in the transmission of pain. Chromocell’s lead compound, CC8464, is an oral, peripherally-acting inhibitor of NaV1.7, which may prove to be efficacious in several large unmet or poorly served chronic pain markets as well as rare, currently untreated diseases. Chromocell anticipates filing an IND for CC8464 in early 2016.
Chromovert is Chromocell’s proprietary drug discovery platform that enables the identification of rare cells ideally suited for effective high-throughput screening. Chromovert makes possible the identification of cells expressing therapeutic targets in physiologically relevant forms, resulting in the discovery of promising drug candidates, such as CC8464.