Arena Pharmaceuticals, a San Diego-based biopharmaceutical company, and Outpost Medicine, a Lexington, Massachusetts-headquartered biopharmaceutical company focused on treatments for urologic and gynecologic diseases and disorders, have formed a licensing agreement to advance an undisclosed, preclinical compound to potentially treat genitourinary disorders.

The compound, targeting an undisclosed G protein-coupled receptor, was internally discovered by Arena.  

Under the agreement, Arena has granted Outpost exclusive, worldwide rights to develop and commercialize the compound. In return, Arena will receive an upfront fee comprised of cash and equity totaling $3 million and is eligible to receive approximately $100 million in development and commercial milestone payments and up to low double-digit tiered royalties on annual net sales of the compound.

Source: Arena Pharmaceuticals