Paragon Advances Registration-Ready CNS Asset Addressing Important Unmet Need and Closes Sale to Teva Pharmaceutical
Agreement highlights Paragon’s ability to build companies around important science, advance registration-ready assets, and deliver value through strategic transactions
Paragon Biosciences today announced the closing of the sale of Emalex Biosciences to Teva Pharmaceutical, reinforcing Paragon's ability to build innovative biotechnology companies that deliver important treatments to the patients who need them.
Emalex is another Paragon Biosciences-founded company built to develop a novel class of treatment for patients with central nervous system disorders, following in the footsteps of other successful Paragon companies such as Harmony Biosciences (NASDAQ: HRMY). Ecopipam, an investigational compound, was developed by Emalex for Tourette syndrome, a neurodevelopmental disorder that can significantly affect daily life for patients and families.
Paragon, supporting Emalex, advanced the drug through clinical development and the compilation of the NDA that will be submitted in the second half of 2026. The acquisition by Teva comprises $700 million in cash and up to $200 million in commercial milestone payments as well as net-sales-based royalties, subject to regulatory approval.
