Novaremed and NeuroFront enter option and license agreement for NRD.E1

25 July 2022

Novaremed AG, a privately held clinical-stage biopharmaceutical company and NeuroFront Therapeutics (Hong Kong) Limited, a China-based clinical stage neuroscience biotech company, jointly announced the signing of an exclusive collaboration and commercialization agreement for Novaremed’s innovative non-opioid investigational drug, NRD.E1, being developed for the treatment of diabetes-related neuropathic pain and other neuropathic pain indications. Under the terms of the agreement, Novaremed is eligible to receive from NeuroFront over USD 130m in option and exercise fees as well as development, regulatory and sales milestone payments plus royalties on net sales.

Under the terms of the agreement, Novaremed will grant NeuroFront an exclusive option to obtain exclusive development, commercialization and manufacturing rights to NRD.E1, Novaremed’s first-in-class, innovative non-opioid investigational drug candidate for the treatment of neuropathic pain. The agreement allows NeuroFront to develop and commercialize NRD.E1 as treatment of painful diabetic peripheral neuropathy (PDPN) and any other neuropathic pain indications in the Greater China territory (including Mainland China, Hong Kong, Macau, and Taiwan) and Singapore.

VISCHER advised Novaremed AG on legal and tax issues related to the option and license agreement. The VISCHER team includes Christian Wyss (Partner, Corporate / M&A), Matthias Staehelin (Partner, Corporate / M&A), Vincent Reardon (Managing Associate, Corporate / M&A), Cédric Saladin (Associate, Corporate / M&A), Timothy Woodtli (Associate, Corporate / M&A), Nadia Tarolli (Partner, Tax) and Adrian Briner (Managing Associate, Tax).