• Terran to advance the development of two of Sanofi's Phase 3 CNS therapeutics
• Transaction includes worldwide exclusive rights for development and commercialization in all fields of use

Terran Biosciences, Inc. ("Terran"), a biotech platform company dedicated to the development of transformational therapeutics for neurological and psychiatric diseases, has entered into an agreement with Sanofi S.A. ("Sanofi") for worldwide exclusive rights to develop and commercialize two late-stage CNS pipeline assets.

These therapeutics generated 4 Investigational New Drug (IND) applications and over 104 clinical studies involving more than 15,000 subjects across a number of CNS indications.

Terran plans to quickly advance the development of these assets for neurological and psychiatric indications, which include several novel applications where there is a large unmet medical need. This transaction represents the key next stage in the development of these promising assets.

The deal included an upfront payment as well as typical success-based milestones and royalties. Specific financial terms of the deal were not disclosed.

"We are grateful to the Sanofi team for entrusting us to continue the development of these late-stage therapeutics, which we believe have the potential to transform the paradigm in neuropsychiatry," stated Dr. Sam Clark, Terran's Founder and CEO.