UK biotechnology group Amarin has licensed the worldwide rights to its promising drug candidate, LAX-202, which is being developed to help treat fatigue in patients with multiple sclerosis, to the USA’s Multicell Technologies.
The US group intends to rename LAX-202 to MCT-125 and further assess the agent’s effectiveness in a pivotal Phase IIb/III clinical trial, which is expected to start before the end of this year.
Although terms of the deal were not disclosed, the move could prove to be fairly lucrative for both firms, considering that around two million people across the globe are afflicted with MS, with more than 75% of these patients reporting fatigue.
If the drug makes it to market, Multicell has forecast sales of up to $3 billion during the time its patent armour is effective. And, if this figure is realized, Amarin could get up to $275 million in milestone payments and cumulative royalty payments.