(RTTNews) - NeuroSense Therapeutics Ltd. (NRSN), on Monday, announced a binding term sheet with a global pharmaceutical company to accelerate the development and commercialization of PrimeC, its proprietary treatment for amyotrophic lateral sclerosis.
The binding term sheet is subject to finalization of a definitive agreement, anticipated in the first quarter of 2025.
The deal includes a substantial upfront payment, funding for a Phase 3 clinical trial, milestone payments, and a tiered royalty structure with double-digit percentages of annual net sales.
The pharmaceutical company will have exclusive rights to distribute, market, and sell PrimeC for ALS in key markets, while NeuroSense retains full rights in other territories.
PrimeC, a fixed-dose combination of two FDA-approved drugs, ciprofloxacin and celecoxib, targets multiple ALS disease pathways such as motor neuron degeneration, inflammation, and RNA regulation.
In a phase IIb trial, dubbed PARADIGM, the results of which were reported recently, PrimeC demonstrated positive safety and efficacy, slowing ALS progression beyond the effect of the standard treatment, riluzole.
PrimeC is expected to advance into a Phase 3 study for ALS in mid-2025. This investigational drug has received Orphan Drug Designation from both the U.S. FDA and the European Medicines Agency (EMA).
ALS, an incurable neurodegenerative disease, affects thousands annually and has a significant disease burden.
NESN is currently trading at $1.13, down nearly 17%.
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