VistaGen Therapeutics has announced that it signed a deal giving EverInsight Therapeutics development and commercialization rights to Vistagen’s PH94B aloradine nasal spray for anxiety disorders in China, South Korea, and a number of other Asian countries. EverInsight, funded by the CBC Group, is paying $5 million up front, plus a potential $172 million in milestone payments as well as tiered royalties on any sales in that market.
PH94B, which VistaGen licensed from Pherin Pharmaceuticals in 2018, is entering Phase 3 development for social anxiety disorder. In December 2019, the FDA granted Fast Track designation PH94B for the treatment of social anxiety disorder, and VistaGen recently announced that it would seek to develop PH94B for the treatment of anxiety related to the COVID-19 pandemic.
VistaGen CEO Shawn Singh commented, “We are pleased to collaborate with EverInsight, a company that shares our vision and excitement for bringing PH94B, a potentially transformative treatment for multiple anxiety disorders, to millions of individuals with unmet needs around the world. EverInsight is an ideal partner to support Phase 3 clinical development and commercial launch of PH94B in Greater China and other Asian markets, as we continue to focus on those activities in the US. . . . PH94B has a fundamentally different mechanism of action than all current treatments for social anxiety disorder and numerous other anxiety disorders, arguably the first new rapid-onset mechanism of action for treatment of anxiety in several decades. Our strategic collaboration today with EverInsight positions PH94B one step closer to becoming a potentially paradigm-shifting new treatment alternative for individuals worldwide.”
CBC Group Managing Director Sean Cao said, “We partner with innovative companies that develop novel medicines with large commercial potential in Greater China and other Asian markets. PH94B is an extremely valuable asset that the world desperately needs today to provide potential relief from the debilitating impact of anxiety on daily life. We are delighted to partner with VistaGen’s team and are highly confident in our plan to advance PH94B through the necessary clinical development and approval process focused on successful commercialization in our core markets.”
Read the VistaGen press release.
