Under the terms of the agreement, Acorda will receive an up-front payment of $2.5 million, a near term milestone payment of up to $6 million, $3 million upon regulatory approval, up to $132.5 million in sales milestones, and a fixed fee for each carton of INBRIJA supplied to Chance. By 2030, it is estimated that China will have approximately 5 million people with Parkinson's disease due to its aging population^[1]. Chance plans to seek regulatory approval as quickly as possible.

Chance Pharmaceuticals is focused on developing and delivering novel inhalation therapies. Its Founder and CEO, Donghao Chen, Ph.D., performed post-doctoral training in the laboratory of Dr. Bob Langer at M.I.T., which invented the ARCUS^® inhalation technology used to make INBRIJA. He also worked at Advanced Inhalation Research (AIR) and Alkermes, where he was the CMC lead for an inhaled insulin therapy, also based on the ARCUS platform.

"We are excited to be collaborating with Acorda to make INBRIJA available to people suffering from Parkinson's disease in China. OFF episodes have a significant impact on the lives of those living with Parkinson's and their families, and we are proud to be working to bring this new treatment option to this community with unmet medical needs," said Donghao Chen, Ph.D., Founder and CEO of Chance Pharmaceuticals.

"Our agreement with Chance is an important milestone toward providing INBRIJA to the world's largest population of people with Parkinson's. The Chance team are experts in inhalation technologies, and we look forward to working with them to achieve regulatory approval and to provide this important medication to patients in China," said Ron Cohen, M.D., President and CEO of Acorda Therapeutics.