Swedish biotech company AlzeCure Pharma AB (FN STO:ALZCUR) announced on Wednesday that it has received the full USD12m upfront payment from Danish biotech company QuantumCell ApS under their licensing and collaboration agreement for the NeuroRestore Alzheimer's platform.

The payment comprises USD7m in cash and a USD5m direct investment in AlzeCure, completing the initial transaction after all closing conditions were fulfilled. The agreement also includes development and commercial milestone payments and tiered royalties ranging from high single-digit to low double-digit percentages on future sales, with a total value exceeding USD2.2bn excluding royalties.

QuantumCell will assume global rights to NeuroRestore and responsibility for the platform's continued clinical development and commercialisation.

NeuroRestore's lead candidate, ACD856, is a small-molecule positive modulator of NGF/TrkA and BDNF/TrkB signalling and is currently in clinical development. Preclinical studies have shown effects including enhanced nerve-cell communication and improved learning and memory, while the candidate has also demonstrated neuroprotective, anti-inflammatory and disease-modifying effects in several models.

The transaction followed approval by Swedish and Danish authorities under applicable foreign direct investment regulations.