Concert Pharmaceuticals has achieved a $2 million milestone under its development and license agreement with Avanir Pharmaceuticals for the clinical progression of AVP-786. Avanir initiated dosing in a Phase II trial for the adjunctive treatment of major depressive disorder.
Avanir has worldwide rights to develop and commercialize AVP-786 and other deuterium-modified dextromethorphan (d-DM) compounds, which also have potential to treat neurological and psychiatric disorders.
Concert is eligible to receive additional milestones based on certain clinical, regulatory and commercial targets. Avanir will continue to have overall responsibility for R&D and commercialization of d-DM compounds, including AVP-786, and Concert is eligible to receive royalties on sales.
“We are very pleased by Avanir’s progress with AVP-786’s clinical development, resulting in a second development milestone to Concert from this program,” said Roger Tung, Ph.D., president and chief executive officer of Concert Pharmaceuticals.