Ropes & Gray represented Tenacia Biotechnology Company, Ltd., a Bain Capital portfolio company, in an exclusive collaboration and license agreement with Praxis Precision Medicines to develop and commercialize ulixacaltamide in Greater China, including mainland China, Hong Kong, Macau and Taiwan. Ulixacaltamide is used for the treatment of essential tremor, a nervous system disorder that causes involuntary shaking and affects at least 10 million people in China.
As part of the agreement, Tenacia will pay Praxis $5 million in cash upfront and invest $10 million in Praxis common stock. Praxis could receive an additional $264 million in development, regulatory and commercialization milestone payments, as well as tiered royalties on net sales.
Based in China, Tenacia is a clinical-stage biopharmaceutical company focused on developing and commercializing treatments for nervous system disorders.
The team was led by IP transactions partner Geoffrey Lin.
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