Sosei Heptares Announces Antitrust Clearance of License Agreement with Neurocrine Biosciences
Sosei Heptares Announces Antitrust Clearance of License Agreement with Neurocrine Biosciences
Tokyo, Japan and Cambridge, UK, 24 December 2021 – Sosei Group Corporation (“Sosei Heptares”; TSE: 4565) today announces that in connection with the Collaboration and License Agreement (“License Agreement”) with Neurocrine Biosciences, Inc. (“Neurocrine Biosciences”) announced 22 November 2021, the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR Act”) expired on 22 December 2021. As such, the License Agreement became effective on 22 December 2021. With completion of the applicable waiting period under the HSR Act, under the terms of the License Agreement Neurocrine Biosciences has agreed to pay Sosei Heptares an upfront payment of US$100 million, with the amount to be recognized as revenue in the fourth quarter of the financial year ending December 31, 2021.
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