Case Study—NeurogesX

As Chairman of NeurogesX I had the pleasure of working with JSB-Partners to facilitate the out-licensing of our Phase II compound for neuropathic pain. We chose JSB rather than to do the project in house since we were on a short time fuse. JSB has extensive contacts within both the Biotech and Pharma industries and used these to rapidly identify a short list of potential partners. The process turned to M&A rather quickly and JSB is unique in that they could also serve as our M&A advisor in the transaction. They helped us run the diligence process to get to a successful sale of the assets in record time. I am pleased with their performance and would gladly use them in future projects.”
Gary Lyons
Former Chairman, NeurogesX

Asset sale of
Qutenza & NP-1998 to
$13,000,000

Deal Landscape

NeurogesX is a specialty pharmaceutical company focused on developing and commercializing a portfolio of novel non-opioid, neuropathic pain products
The Company's lead product, Qutenza®, is approved in the US and EU to treat neuropathic pain. NeurogesX was also developing NGX-1998 (n.k.a. NP-1998), a Phase 3-ready 20% strength capsaicin topical solution

JSB’s Role

NeurogesX mandated JSB to aid in the identification and selection of a partner, principally for NGX-1998, and potentially Qutenza, outside the Astellas territory
JSB developed both M&A and rNPV models in order to evaluate a range of potential deal scenarios
JSB helped to engaged Acorda Therapeutics (NASDAQ:ACOR) for an asset acquisition and drove due diligence and negotiations among NeurogesX, Acorda, Astellas, and HC Royalty Partners

Successful Close

JSB’s efforts ultimately resulted in the sale of the Qutenza and NGX-1998 assets to Acorda for an up-front cash payment and potential milestone payments. Astellas Europe maintains marketing rights to Qutenza in the EU and specified ex-US territories, and HC Royalty Partners maintains its royalty rights