Xenon Feels No Pain After $41M Upfront From Teva
This article was originally published in The Pink Sheet Daily
Teva and Xenon collaborate to develop the Canadian company’s lead pain product; the deal could net Xenon as much as $376 million and will fit snugly into the Israeli company’s new focus.
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Once highly anticipated as an alternative mechanism for pain, the Nav1.7 target suffered another blow with Teva/Xenon’s failure of TV-45070 in osteoarthritis, though the class may still work in neuropathic pain.
Private drug developer Xenon will move forward development of the novel anemia drug XEN701 for patients with chronic kidney disease and pay $2 million to partner Isis.
Advances in pain neurobiology point to the promise of more specific drugs with fewer side effects, yet the field continues to show few successes. Nevertheless, fast-advancing knowledge, a huge market, and better clinical study de-risking strategies should eventually overcome investor shyness about backing emerging personalized pain drug developers.