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Avanir Pharmaceuticals and Concert Pharmaceuticals Announce License Agreement to Develop and Commercialize Deuterium-modified Dextromethorphan for Disorders of the Nervous System
Date:2/29/2012

ALISO VIEJO, Calif. and LEXINGTON, Mass., Feb. 29, 2012 /PRNewswire/ -- Avanir Pharmaceuticals, Inc. (Nasdaq: AVNR) and Concert Pharmaceuticals, Inc. announced today that they have entered into an exclusive license agreement that provides Avanir worldwide rights to develop and commercialize Concert's deuterium-modified dextromethorphan (d-DM) for the potential treatment of neurological and psychiatric disorders.  The agreement includes the rights to multiple deuterium-modified dextromethorphan compounds.

Under the terms of the agreement, Concert will receive an upfront payment and is eligible to receive additional milestone payments upon achievement of certain predefined clinical, regulatory and commercial targets as well as tiered royalties on worldwide sales of products containing d-DM.  Avanir will have overall responsibility for research, development and commercialization of d-DM.  Concert will provide manufacturing support for investigational new drug enabling studies.

"Concert's DCE Platform (Deuterated Chemical Entity Platform) has produced several deuterium-modified dextromethorphan compounds that we believe may provide therapeutically effective levels of dextromethorphan, potentially without the need for an enzyme inhibitor such as quinidine," said Greg Flesher, senior vice president of corporate development and chief business officer of Avanir Pharmaceuticals.  "As part of our portfolio strategy, we intend to explore the utility of d-DM in neurological and psychiatric disorders where dual NMDA antagonists and sigma-1 agonists may be beneficial."

"We are very pleased to enter into this collaboration with Avanir, who we believe has the unique expertise to best maximize the broad clinical potential of d-DM.  Avanir's knowledge of dextromethorphan-based therapeutics and their proven track record to bring drugs to the market make th
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SOURCE Avanir Pharmaceuticals, Inc.; Concert Pharmaceuticals, Inc.
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