Cyclerion’s sGC Stimulator Portfolio Generates Revenues to Enable Company Growth
Cyclerion Therapeutics (CYCN) announced key updates on monetizing its sGC stimulator portfolio. The company renegotiated its praliciguat license agreement with Akebia, securing $1.75 million in upfront and near-term payments, plus potential future milestone payments up to $560 million and tiered sales royalties from mid-single-digits to 20%.
Additionally, CYCN entered an exclusive license option agreement for olinciguat with a CVCO Therapeutics-controlled entity. This follows the May 2023 sale of CNS assets zagociguat and CY3018 to Tisento Therapeutics for $8 million and 10% equity stake.
These agreements represent the final steps in monetizing Cyclerion's historical portfolio, enabling the company to focus on acquiring new CNS assets without near-term dilution.
Cyclerion Therapeutics (CYCN) ha annunciato aggiornamenti chiave sulla monetizzazione del suo portfolio di stimolatori sGC. L'azienda ha rinegoziato il contratto di licenza per il praliciguat con Akebia, ottenendo 1,75 milioni di dollari in pagamenti iniziali e a breve termine, oltre a potenziali pagamenti per traguardi futuri fino a 560 milioni di dollari e royalties sulle vendite a scaglioni da una cifra intera al 20%.
Inoltre, CYCN ha stipulato un accordo di opzione di licenza esclusiva per l'olinciguat con un'entità controllata da CVCO Therapeutics. Questo arriva dopo la vendita nel maggio 2023 delle attività CNS zagociguat e CY3018 a Tisento Therapeutics per 8 milioni di dollari e una partecipazione azionaria del 10%.
Questi accordi rappresentano i passi finali per monetizzare il portfolio storico di Cyclerion, consentendo all'azienda di concentrarsi sull'acquisizione di nuovi asset CNS senza diluizioni a breve termine.
Cyclerion Therapeutics (CYCN) anunció actualizaciones clave sobre la monetización de su cartera de estimuladores de sGC. La compañía renegoció su acuerdo de licencia para praliciguat con Akebia, asegurando 1.75 millones de dólares en pagos iniciales y a corto plazo, además de futuros pagos por hitos de hasta 560 millones de dólares y regalías por ventas de un solo dígito medio hasta el 20%.
Además, CYCN firmó un acuerdo de opción de licencia exclusiva para olinciguat con una entidad controlada por CVCO Therapeutics. Esto sigue a la venta en mayo de 2023 de los activos de CNS zagociguat y CY3018 a Tisento Therapeutics por 8 millones de dólares y un 10% de participación accionaria.
Estos acuerdos representan los pasos finales para monetizar el portafolio histórico de Cyclerion, permitiendo a la empresa centrarse en la adquisición de nuevos activos de CNS sin dilución a corto plazo.
사이클리리온 치료제 (CYCN)은 sGC 자극제 포트폴리오의 수익화에 대한 주요 업데이트를 발표했습니다. 이 회사는 아케비아와의 프랄리시구앗 라이센스 계약을 재협상하여 선불 및 단기 지급금으로 175만 달러를 확보하고, 향후 최대 5억 6천만 달러의 마일스톤 지급금과 중간 1~20%의 매출 로열티를 받을 수 있게 되었습니다.
추가로 CYCN은 CVCO 치료제에 의해 통제되는 엔터티와 올린시구앗에 대한 독점 라이센스 옵션 계약을 체결했습니다. 이는 2023년 5월 CNS 자산인 자고시구앗과 CY3018을 티센토 치료제에 800만 달러와 10%의 지분으로 매각한 결과입니다.
이 계약들은 사이클리리온의 역사적 포트폴리오 수익화의 마지막 단계를 나타내며, 기업이 단기적인 희석 없이 새로운 CNS 자산을 확보하는 데 집중할 수 있게 해줍니다.
Cyclerion Therapeutics (CYCN) a annoncé des mises à jour clés concernant la monétisation de son portefeuille de stimulateurs sGC. L'entreprise a renégocié son contrat de licence pour le praliciguat avec Akebia, obtenant 1,75 million de dollars en paiements initiaux et à court terme, ainsi que de futurs paiements potentiels liés à des étapes pouvant atteindre 560 millions de dollars et des redevances sur les ventes variant de chiffres uniques à 20%.
De plus, CYCN a signé un accord d'option de licence exclusive pour l'olinciguat avec une entité contrôlée par CVCO Therapeutics. Cela fait suite à la vente en mai 2023 des actifs CNS zagociguat et CY3018 à Tisento Therapeutics pour 8 millions de dollars et une participation de 10%.
Ces accords représentent les dernières étapes de la monétisation du portefeuille historique de Cyclerion, permettant à l'entreprise de se concentrer sur l'acquisition de nouveaux actifs CNS sans dilution à court terme.
Cyclerion Therapeutics (CYCN) hat wichtige Aktualisierungen zur Monetisierung seines sGC-Stimulatorportfolios angekündigt. Das Unternehmen hat seinen Lizenzvertrag für Praliciguat mit Akebia neu verhandelt und sich 1,75 Millionen Dollar an Vorauszahlungen und kurzfristigen Zahlungen sowie potenzielle zukünftige Meilensteinzahlungen von bis zu 560 Millionen Dollar und gestaffelte Verkaufsroyalties von mittleren einstelligen bis 20 % gesichert.
Zusätzlich hat CYCN einen exklusiven Lizenzoptionsvertrag für Olinciguat mit einer von CVCO Therapeutics kontrollierten Einheit abgeschlossen. Dies folgt dem Verkauf der CNS-Vermögenswerte Zagociguat und CY3018 an Tisento Therapeutics im Mai 2023 für 8 Millionen Dollar und einem Aktienanteil von 10 %.
Diese Vereinbarungen stellen die letzten Schritte zur Monetisierung von Cyclerions historischem Portfolio dar und ermöglichen es dem Unternehmen, sich auf die Akquisition neuer CNS-Vermögenswerte zu konzentrieren, ohne kurzfristige Verdünnung zu erfahren.
- Secured $1.75 million in immediate and near-term payments from Akebia
- Potential to receive up to $560 million in future milestone payments from praliciguat
- Increased royalty rates up to 20% on praliciguat sales
- Reduction in operating expenses through transfer of IP costs to partners
- Previous sale of CNS assets for $8 million cash plus 10% equity stake in Tisento
- Reduction in certain development milestone payments for praliciguat
- Company indicates need to raise additional capital
Insights
Cyclerion Has Renegotiated Praliciguat License Agreement to Obtain Upfront and Near-Term Payments as well as Entered into a License Option Agreement for Olinciguat
CAMBRIDGE, Mass., Dec. 17, 2024 (GLOBE NEWSWIRE) -- Cyclerion Therapeutics, Inc. (Nasdaq: CYCN), today announced an update on its progress in catalyzing the Company’s next stage of growth. The Company is leveraging its legacy soluble guanylate cyclase (sGC) stimulator assets to generate near-term revenues which will be used to implement its strategic building plan without near-term dilution.
“These agreements demonstrate Cyclerion’s progress in maximizing its legacy asset value while redirecting resources toward acquiring potential new assets,” said Regina Graul, Ph.D., President and Chief Executive Officer of Cyclerion. “These newly finalized agreements, combined with our significant reduction of operating expenses, enable the focused use of our capital to support our anticipated pipeline build in the central nervous system (CNS) space. Concurrently, we plan to raise capital, as needed, to fund our product plans to create value for shareholders and patients.” Graul continued, “Cyclerion’s diligence team, comprised of committed external experts in their respective fields, is currently in advanced stages of conducting promising asset evaluations, which we believe have the potential to be the new foundation for Cyclerion.”
Cyclerion and Akebia have re-negotiated a mutually beneficial amendment to their exclusive license agreement for praliciguat, a systemic sGC stimulator. Under the new license amendment with Akebia, Cyclerion will receive
Cyclerion has also entered into an exclusive license option agreement for its vascular sGC stimulator, olinciguat, with a separate entity, wholly controlled by CVCO Therapeutics, Inc., a clinical stage company focused on microvascular dysfunction in cardiovascular, inflammatory and metabolic disease states. Under the terms of the agreement, the potential partner has exclusive rights to evaluate olinciguat during the option period. During the option period, the grantee has assumed responsibility for all ongoing intellectual property-related expenses associated with olinciguat.
As part of its strategic initiatives, Cyclerion previously announced a definitive agreement for the sale of its CNS assets zagociguat and CY3018 to Tisento Therapeutics in May 2023 for an
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FAQ
What are the financial terms of CYCN's renegotiated praliciguat license agreement with Akebia?
What did CYCN receive from the sale of zagociguat and CY3018 to Tisento Therapeutics?
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