Kazia Therapeutics licenses paxalisib to Sovargen

Kazia Therapeutics has entered into an exclusive licensing agreement with Sovargen, a biotechnology company specializing in central nervous system diseases, to develop, manufacture and commercialise paxalisib as a potential treatment of intractable epilepsy in focal cortical dysplasia type 2 – FCD T2 – and tuberous sclerosis complex – TSC – disease. There are currently no approved drugs for patients with FCD T2. Under the agreement, Kazia will receive an upfront payment of $1.5M, potential milestone payments of up to $19M upon the achievement of development and regulatory milestones, and a percentage of sub-licensing revenues and royalties on net sales of products incorporating paxalisib. The licensing agreement includes all countries worldwide, excluding mainland China, Hong Kong, Macao and Taiwan, which Kazia retains.