Sepracor Licenses Epilepsy Drug

Marlborough, MA-based Sepracor, maker of the insomnia drug Lunesta, announced today that it has signed an exclusive licensing deal with Bial covering development and commercialization of the Portuguese company’s anti-epileptic compound BIA 2-093 in Canada and the United States.

Under the terms of the agreement, Bial will receive $75 million up front and is eligible for up to $100 million in additional payments if it meets development and regulatory milestones. Sepracor is to handle the New Drug Application filing with the U.S. Food and Drug Administration, which it said in a press release should occur late this year or in early 2009. Presuming BIA 2-093 is approved by the FDA, Sepracor expects U.S. product launch by early 2010.

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