Terran Biosciences has entered into an agreement with Sanofi for worldwide exclusive rights to develop and commercialize two late-stage CNS pipeline assets.

These therapeutics generated 4 Investigational New Drug (IND) applications and over 104 clinical studies involving more than 15,000 subjects across a number of CNS indications.

Terran plans to quickly advance the development of these assets for neurological and psychiatric indications, which include several novel applications where there is a large unmet medical need. This transaction represents the key next stage in the development of these promising assets.

The deal included an upfront payment as well as typical success-based milestones and royalties. Specific financial terms of the deal were not disclosed.

"We are grateful to the Sanofi team for entrusting us to continue the development of these late-stage therapeutics, which we believe have the potential to transform the paradigm in neuropsychiatry," stated Dr. Sam Clark, Terran's Founder and CEO.