The Life Sciences team led by partner Karen Spindler and counsel Kathleen Kean advised Sage Therapeutics on its strategic collaboration agreement with Shionogi & Co., Ltd. to develop and commercialize SAGE-217 for the treatment of major depressive disorder (MDD) and other indications in Japan, Taiwan and South Korea. Under the terms of the agreement, Shionogi will make an upfront payment of $90 million to Sage, and Sage will be eligible to receive development and commercial milestones of up to $485 million. Sage will also receive tiered royalties on sales of SAGE-217 in Japan, Taiwan and South Korea, with tiers averaging in the greater than 20 percent range, subject to other terms of the agreement. Sage may co-promote SAGE-217 in Japan and retained exclusive rights to SAGE-217 outside of Japan, Taiwan and South Korea. In February 2018, the FDA granted Breakthrough Therapy designation for SAGE-217 for the treatment of MDD. The goal of the collaboration is to accelerate development of a potentially groundbreaking medicine to patients in key Asian markets.
Sage Therapeutics is a clinical-stage biopharmaceutical company committed to developing novel medicines to transform the lives of patients with life-altering CNS disorders.
For additional details on the collaboration, please read the press release.