Minoryx Therapeutics SL is banking what it described as “a significant double-digit up-front payment” and could earn up to €258 million (US$262.1 million) more in milestone payments and development funding from a license agreement with Neuraxpharm GmbH, which covers European rights to its lead drug candidate, leriglitazone, in central nervous system indications. It will also receive tiered double-digit royalties on product sales.

The new peroxisome proliferator-activated receptor gamma (PPARgamma) agonist leriglitazone (hydroxypioglizatone; Minoryx Therapeutics), has a better profile for treating neurodegenerative diseases, such as X-linked adrenoleukodystrophy (X-ALD), than similar drugs, including pioglitazone (Actos; Takeda).