NRx Pharmaceuticals in Radnor has signed a licensing deal for its new drug candidate targeting bipolar depression, writes John George for Philadelphia Business Journal.

The deal could give NRx $345 million upfront and milestone payments to follow.

NRx is collaborating with Lotus Pharmaceuticals and Alvogen on developing an experimental treatment known as NRX-101.  

An estimated 7 million people live with bipolar depression in the U.S. Half will attempt suicide in their lifetimes, according to medical studies.

“This collaboration can accelerate the delivery of NRX-101 to patients grappling with suicidal bipolar depression who desperately need better treatment alternatives,” said Stephan Willard, CEO of NRx.

With a global partnership, NRx Pharmaceuticals minimizes the need to raise future capital for NRX-101

Under the deal, Lotus Pharmaceuticals of Taiwan gains worldwide rights for NRX-101, commercializing the bipolar drug outside the United States.  

Alvogen of Morristown, New Jersey, will market NRX-101 in the U.S.

NRx receives $10 million tied to successful results from clinical trials and applications for approval with the FDA.

NRx receives another $5 million if the FDA approves NRX-101. It would be eligible for future payments of up to $330 million based on set drug net sales and is eligible for royalties.

Read more about NRx’s licensing deal in the Philadelphia Business Journal.