Neurizon Therapeutics Limited (ASX: NUZ & NUZOA), an Australian clinical-stage biotech company, announced on Wednesday that it has executed an exclusive global license agreement with US-based Elanco Animal Health Incorporated (NYSE: ELAN) for monepantel, the active pharmaceutical ingredient in NUZ-001.

NUZ-001 is Neurizon's lead investigational therapy in development for for the treatment, palliation, prevention, or cure of neurodegenerative diseases in humans, including Amyotrophic Lateral Sclerosis (ALS).

This license agreement is claimed to represent a critical milestone for Neurizon, further strengthening the Company's strategic outlook for the development, manufacturing and potential future commercialisation of NUZ-001.

The agreement grants Neurizon exclusive global rights to Elanco's data package and related intellectual property for monepantel to develop and commercialise NUZ-001 and its related compounds. A nominal upfront licensing fee is payable to Elanco upon execution of the agreement. Total Development milestone payments of USD9.75m are due for the initial licensed products, indications, or presentations, with subsequent payments of USD5.2m. Elanco will also be eligible for milestone payments of up to USD65m based on sales milestones.

A finalised supply agreement announcement is expected in the second half of 2025.

This next phase of the collaboration is expected to provide Neurizon with long-term, scalable source of GMP-compliant monepantel to support ongoing clinical development, regulatory submissions, and future global commercialisation of NUZ-001.