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** UCB and Praxis Precision Medicines Announce Epilepsy Research Collaborat=
ion
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BRUSSELS (Belgium) and BOSTON, Massachusetts (USA), December 13th, 2022 (22=
:01 CET) =E2=80=94 UCB, a global biopharmaceutical company (EURONEXT BRUSSE=
LS: UCB), and Praxis Precision Medicines, Inc. (NASDAQ: PRAX), a clinical-s=
tage biopharmaceutical company, today announced a strategic collaboration, =
based upon Praxis=E2=80=99 PRAX-020 program, for the discovery of small mol=
ecule therapeutics as potential treatments of KCNT1 related epilepsies.
=E2=80=9CWe are excited to partner with UCB, a global leader in epilepsy dr=
ug development, as we work together toward a novel approach for the treatme=
nt of KCNT1 related epilepsy, which has no approved therapies currently,=E2=
=80=9D said Marcio Souza, president and chief executive officer of Praxis. =
=E2=80=9COur internal research efforts give us confidence that small molecu=
les can selectively inhibit the KCNT1 channel, and potentially could be an =
effective treatment for individuals suffering from KCNT1 related epilepsy. =
The collaboration with UCB validates this approach and will allow us to acc=
elerate efforts toward a potential treatment for KCNT1 patients.=E2=80=9D
Under the terms of the collaboration, UCB retains an exclusive option to in=
-license global development and commercialization rights to any resulting K=
CNT1 small molecule development candidate. Praxis will receive an upfront p=
ayment from UCB, and if the option is exercised by UCB, would be eligible t=
o receive an option fee and future success-based development and commercial=
ization milestone payments, for a total of up to approximately $100 million=
, in addition to tiered royalties on net sales of any resulting products fr=
om the collaboration. Further financial details of the agreement were not d=
isclosed.
=E2=80=9CUCB is dedicated to the discovery and development of treatments fo=
r epilepsy, including rare and genetic epilepsies, with an ambition to deve=
lop solutions that move from symptomatic relief to those that could address=
the root causes of disease,=E2=80=9D said Dhaval Patel, chief scientific o=
fficer of UCB. =E2=80=9CPraxis=E2=80=99 genetics-driven approach has led to=
compelling preclinical proof of concept, and we look forward to progressin=
g this novel research program together for the benefit of individuals and f=
amilies affected by this devastating form of epilepsy.=E2=80=9D
About UCB
UCB, Brussels, Belgium (www.ucb.com) is a global biopharmaceutical company =
focused on the discovery and development of innovative medicines and soluti=
ons to transform the lives of people living with severe diseases of the imm=
une system or of the central nervous system. With more than 8,600 people in=
approximately 40 countries, UCB generated revenue of =E2=82=AC5.8 billion =
in 2021. UCB is listed on Euronext Brussels (symbol: UCB). Follow us on Twi=
tter: @UCB_news
Forward looking statements - UCB
This press release may contain forward-looking statements including, withou=
t limitation, statements containing the words =E2=80=9Cbelieves=E2=80=9D, =
=E2=80=9Canticipates=E2=80=9D, =E2=80=9Cexpects=E2=80=9D, =E2=80=9Cintends=
=E2=80=9D, =E2=80=9Cplans=E2=80=9D, =E2=80=9Cseeks=E2=80=9D, =E2=80=9Cestim=
ates=E2=80=9D, =E2=80=9Cmay=E2=80=9D, =E2=80=9Cwill=E2=80=9D, =E2=80=9Ccont=
inue=E2=80=9D and similar expressions. These forward-looking statements are=
based on current plans, estimates and beliefs of management. All statement=
s, other than statements of historical facts, are statements that could be =
deemed forward-looking statements, including estimates of revenues, operati=
ng margins, capital expenditures, cash, other financial information, expect=
ed legal, arbitration, political, regulatory or clinical results or practic=
es and other such estimates and results. By their nature, such forward-look=
ing statements are not guarantees of future performance and are subject to =
known and unknown risks, uncertainties and assumptions which might cause th=
e actual results, financial condition, performance or achievements of UCB, =
or industry results, to differ materially from those that may be expressed =
or implied by such forward-looking statements contained in this press relea=
se. Important factors that could result in such differences include: the gl=
obal spread and impact of COVID-19, changes in general economic, business a=
nd competitive conditions, the inability to obtain necessary regulatory app=
rovals or to obtain them on acceptable terms or within expected timing, cos=
ts associated with research and development, changes in the prospects for p=
roducts in the pipeline or under development by UCB, effects of future judi=
cial decisions or governmental investigations, safety, quality, data integr=
ity or manufacturing issues; potential or actual data security and data pri=
vacy breaches, or disruptions of our information technology systems, produc=
t liability claims, challenges to patent protection for products or product=
candidates, competition from other products including biosimilars, changes=
in laws or regulations, exchange rate fluctuations, changes or uncertainti=
es in tax laws or the administration of such laws, and hiring and retention=
of its employees. There is no guarantee that new product candidates will b=
e discovered or identified in the pipeline, will progress to product approv=
al or that new indications for existing products will be developed and appr=
oved. Movement from concept to commercial product is uncertain; preclinical=
results do not guarantee safety and efficacy of product candidates in huma=
ns. So far, the complexity of the human body cannot be reproduced in comput=
er models, cell culture systems or animal models. The length of the timing =
to complete clinical trials and to get regulatory approval for product mark=
eting has varied in the past and UCB expects similar unpredictability going=
forward. Products or potential products, which are the subject of partners=
hips, joint ventures or licensing collaborations may be subject to differen=
ces disputes between the partners or may prove to be not as safe, effective=
or commercially successful as UCB may have believed at the start of such p=
artnership. UCB=E2=80=99s efforts to acquire other products or companies an=
d to integrate the operations of such acquired companies may not be as succ=
essful as UCB may have believed at the moment of acquisition. Also, UCB or =
others could discover safety, side effects or manufacturing problems with i=
ts products and/or devices after they are marketed. The discovery of signif=
icant problems with a product similar to one of UCB=E2=80=99s products that=
implicate an entire class of products may have a material adverse effect o=
n sales of the entire class of affected products. Moreover, sales may be im=
pacted by international and domestic trends toward managed care and health =
care cost containment, including pricing pressure, political and public scr=
utiny, customer and prescriber patterns or practices, and the reimbursement=
policies imposed by third-party payers as well as legislation affecting bi=
opharmaceutical pricing and reimbursement activities and outcomes. Finally,=
a breakdown, cyberattack or information security breach could compromise t=
he confidentiality, integrity and availability of UCB=E2=80=99s data and sy=
stems.=C2=A0
Given these uncertainties, you should not place undue reliance on any of su=
ch forward-looking statements. There can be no guarantee that the investiga=
tional or approved products described in this press release will be submitt=
ed or approved for sale or for any additional indications or labelling in a=
ny market, or at any particular time, nor can there be any guarantee that s=
uch products will be or will continue to be commercially successful in the =
future.
UCB is providing this information, including forward-looking statements, on=
ly as of the date of this press release and it does not reflect any potenti=
al impact from the evolving COVID-19 pandemic, unless indicated otherwise. =
UCB is following the worldwide developments diligently to assess the financ=
ial significance of this pandemic to UCB. UCB expressly disclaims any duty =
to update any information contained in this press release, either to confir=
m the actual results or to report or reflect any change in its forward-look=
ing statements with regard thereto or any change in events, conditions or c=
ircumstances on which any such statement is based, unless such statement is=
required pursuant to applicable laws and regulations.=C2=A0
Additionally, information contained in this document shall not constitute a=
n offer to sell or the solicitation of an offer to buy any securities, nor =
shall there be any offer, solicitation or sale of securities in any jurisdi=
ction in which such offer, solicitation or sale would be unlawful prior to =
the registration or qualification under the securities laws of such jurisdi=
ction.
For further information
R&D Communications - UCB
Scott Fleming
Scott.fleming@ucb.com / +44 7702777378
Investor Relations - UCB
Antje Witte
antje.witte@ucb.com / +32.2.559.94.14
Investor Contact - Praxis
Alex Kane=C2=A0
Praxis Precision Medicines
investors@praxismedicines.com / 617-300-8481
Media Contact - Praxis
Ian Stone
Canale Communications
Ian.stone@canalecomm.com / 619-849-5388
=C2=A0
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