The collaboration provides BioArctic with an upfront payment of $30 million and potential milestone and royalty payments as the companies explore a novel drug candidate for severe neurological disorders.
The acquisition adds Furoscix, an FDA-approved furosemide infusion therapy for chronic heart failure and kidney disease, while strengthening MannKind’s pipeline and commercial presence in cardiometabolic and orphan lung diseases.
Under terms of the deal, Gilgamesh could receive up to $1.2 billion as bretisilocin progresses through clinical development for the treatment of major depressive disorder.
The agreement values Mural Oncology at up to $36.2 million, with shareholders set to receive a base cash payment and potential additional consideration tied to closing net cash.