Under the terms of the agreement, Servier has received an option to acquire certain intellectual property rights and to further develop and commercialise XEN-D0103 in all territories except the USA and Japan. All rights in the USA and Japan will be retained by Xention.
During the option period, the parties will undertake a joint programme of clinical development of XEN-D0103 undertaking two phase 2 clinical studies aimed at demonstrating the efficacy of XEN-D0103 in reducing AF burden in paroxysmal AF. In addition to an upfront fee, Servier will pay an option fee as well as a series of milestones totalling €120 million. When Servier exercises its option, it will be responsible for the further clinical development and commercialisation of XEN-D0103 within its territories.
XEN-D0103 is a potent and selective blocker of Kv1.5, a potassium channel expressed in the atria, which represents an exciting new target for atrial fibrillation. Xention's unique ion channel and cardiovascular development capabilities were critical for the discovery and development of this innovative compound, which has been shown to be safe and well tolerated in phase 1 clinical development.
Tim Brears, CEO of Xention said: "Servier has significant expertise in the development and commercialisation of cardiovascular drugs and represents an excellent partner for Xention. We are delighted to be working with Servier on this exciting project."
Dr Isabelle Tupinon Mathieu, Vice President Research and Development for Cardiovascular and Metabolism Therapeutic Innovation Poles at Servier said: "We look forward to be working on the further development of XEN-D0103, which represents an innovative new approach to atrial fibrillation. This compound is unique in its potency and specificity for Kv1.5, a key atrial selective cardiac ion channel."
"Participating in the development of this innovative drug in atrial fibrillation further expands our portfolio of drugs aimed at treating various cardiac diseases and at offering patients with this very debilitating disease a new treatment opportunity" said Dr Jean Philippe Seta, CEO of Servier.