GW and Otsuka Pharmaceutical Enter Into Global Cannabinoid Research Collaboration
GW Pharmaceuticals and Otsuka Pharmaceutical Co., Ltd. have signed a global cannabinoid research collaboration in the field of central nervous system (CNS) and oncology in order to research, develop and commercialize a range of candidate cannabinoid products.
The cannabinoid research collaboration has an initial term of three years, during which Otsuka will make available a research fund of $9 million, which may be increased from time to time by Otsuka, to cover research activities carried out by GW and its scientific collaborators under this agreement.
The GW-Otsuka collaboration research team, which incorporates senior scientists from both companies, will evaluate a range of GW cannabinoids as drug candidates within the field of CNS and oncology, with a view to selecting the most promising candidates for full clinical development, regulatory approval and global commercialization.
Products selected for full development will be the subject of a license from GW.
Under the terms of each product license, Otsuka will fund the global development and commercialization of such products, and GW will receive license fees, milestone payments and a long term commercial supply price and royalty.
The financial terms of each license are to be agreed at the time of selection of each product for global development.
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