Ignis obtains rights to develop and commercialize NeuroSigma’s FDA-approved Monarch eTNS System in China
Initial launch of Generation 1.0 device followed by Generation 1.5 device, to deploy in mainland China, Hong Kong and Macau
LOS ANGELES and SHANGHAI, China, Jan. 25, 2022 (GLOBE NEWSWIRE) -- NeuroSigma, Inc., a bioelectronic medical device company, and Ignis Therapeutics, a life science company focusing on the central nervous system therapies, jointly announced today that Ignis Therapeutics has acquired the exclusive license in China (including Hong Kong and Macau) of NeuroSigma’s Monarch eTNS System® to treat attention deficit hyperactivity disorder (ADHD). The license contemplates potential expansion into other indications in China beyond ADHD and Ignis potentially acquiring rights to manufacture the device.
The Monarch eTNS System uses non-invasive external trigeminal nerve stimulation (eTNS) to treat neurological and neuropsychiatric indications, including ADHD, depression, and epilepsy. It is the first device-based, non-drug therapy approved by the FDA to treat pediatric ADHD.
In exchange for the exclusive license for ADHD in the territory, NeuroSigma receives a significant upfront payment and up to $10 million of milestone payments, in addition to royalties and other compensation under the license agreement.
Ignis Therapeutics, an innovative life science company focusing on the central nervous system therapies, was incubated by 6 Dimensions Capital, a leading healthcare-focused investment firm, and recently announced its $180 million Series A financing led by 6 Dimensions. Ignis’ recent financing transaction represented one of the largest Series A financings in the life science sector in China in 2021.
“We are delighted to announce this transaction, which brings NeuroSigma’s eTNS therapy for ADHD to China, a significant therapeutic market. We are even more excited about the new strategic relationship with the outstanding medical and commercial teams at Ignis Therapeutics and 6 Dimensions,” said Dr. Colin Kealey, President of NeuroSigma. “We appreciate Ignis’s collaborative approach in achieving this important milestone for NeuroSigma. This marks the launch of an exciting new strategic relationship, dedicated to the future success of the Monarch eTNS System in China for treating ADHD and potentially other neurological and neuropsychiatric indications.”
“We are excited to license this important non-invasive, bioelectronic technology in China, which expands Ignis’ strategic portfolio and further strengthens Ignis’ integrated platform to fulfill unmet needs of patients with central nervous system diseases,” said Dr. Eileen Long, CEO of Ignis Therapeutics. “This transaction signifies Ignis’s commitment to the convergence of digital health, bioelectronics and traditional pharmaceutical therapies and brings to China a new effective and safe treatment for ADHD and potentially other indications.”
C. Thomas Paschall, Director of NeuroSigma and CEO of Checkmate Capital, commented, “This transaction is a significant cross-border achievement. Both Ignis and NeuroSigma have dedicated, talented, and collaborative scientific and transactional teams, which allowed them to expeditiously complete this transaction based on strongly aligned interests and to establish a promising, cooperative, and mutually beneficial relationship.”
Checkmate Capital Group served as strategic and commercial advisor to NeuroSigma in connection with this transaction.
NeuroSigma is a Los Angeles, California-based life sciences company developing bioelectronic technologies to transform medical practice and patients' lives. The company is developing therapies to treat a wide spectrum of neurological and neuropsychiatric disorders, including ADHD, drug resistant epilepsy, and depression. The company is currently commercializing the Monarch eTNS System, which is the first non-drug treatment for pediatric ADHD cleared by the FDA. NeuroSigma’s therapies employ trigeminal nerve stimulation (TNS). For more information about NeuroSigma, please visit www.neurosigma.com. For more information on the Monarch eTNS System, please visit www.monarch-etns.com.
About Ignis Therapeutics
Ignis Therapeutics is an innovative life science company developing novel therapies for central nervous system (CNS) conditions that have limited treatment options. Through its partnership with world-leading CNS-specialized companies, Ignis is transforming the approach to treating CNS conditions with a strong commitment to self-discovery as well as a development strategy to advance the treatment paradigm. Ignis has gathered an outstanding team of top talent, including industry-renowned business leaders, neuroscientists, and clinicians, with strong track records in the development and commercialization of novel treatments for CNS diseases. At Ignis, we are intensely committed to developing products that meaningfully improve the lives of patients and provide additional therapeutic options for physicians. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4028db54-e710-4597-8f09-169afe3c8ca5
China License Signing Ceremony
Ignis CEO, Eileen Long and NeuroSigma President, Dr. Colin Kealey Execute the China License Agreement.