Neuren Pharmaceuticals (ASX: NEU) has announced that the sale of the Rare Pediatric Disease Priority Review Voucher by its partner Acadia Pharmaceuticals has been completed.
The voucher was granted by the US FDA following the approval of DAYBUE (trofinetide) for the treatment of Rett syndrome.
On 5 November, Acadia announced the sale of the voucher for US$150 million subject to customary closing conditions, including expiration of the applicable waiting period under the Hart-Scott Rodino Antitrust Improvements Act.
Under the license agreement between Acadia and Neuren, Neuren is entitled to receive one-third of the proceeds, net of any applicable costs, which are not expected to be material.