Boehringer Ingelheim and Arena Pharmaceuticals, Inc. announced that they have signed an exclusive agreement to conduct joint research to identify drug candidates targeting an undisclosed G protein-coupled receptor which belongs to the group of orphan CNS receptors. An orphan receptor is structurally related to a family of proteins that are known to act as functional cell-surface receptors but whose ligand has not yet been identified. Arena will provide Boehringer Ingelheim exclusive rights to its internally discovered, novel compounds and intellectual property for an orphan CNS receptor.

The companies will jointly conduct research to identify additional drug candidates that are suitable for continued research and development as therapeutic compounds for various disease indications. The agreement grants Boehringer Ingelheim exclusive worldwide rights to develop, manufacture and commercialize products resulting from the collaboration. The new partnership combines Arena's expertise in GPCR focused drug discovery and development with Boehringer Ingelheim's unique approach to CNS research and development and its proven capabilities in bringing novel medications of high therapeutic value to the market in areas of high unmet medical need.

The collaboration is part of Boehringer Ingelheim's commitment to researching and developing new and more effective treatments for psychiatric diseases and their symptoms. Under the terms of the agreement, Arena is eligible to receive payments up to $262 million in success milestones in case of full commercial success of multiple drug products, including an upfront payment and research funding. In addition, Arena is eligible to receive tiered royalties on future sales of products that arise from the collaboration.