Marinus Pharmaceuticals Terminates Collaboration Agreement with Orion

Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS) announced on December 23, 2024, that it has entered into a Termination and Release Agreement with Orion Corporation, terminating several agreements between the two companies. This decision comes as part of Marinus Pharmaceuticals’ strategic review.

The Termination Agreement includes the termination of the Collaboration Agreement, Manufacturing and Supply Agreement, and various related ancillary agreements between Marinus Pharmaceuticals and Orion. Additionally, both parties have mutually released any claims associated with these agreements.

As per the terms of the Termination Agreement, Orion is relieved of paying the €500,000 development costs payment that would have been due in the fourth quarter of 2024 under the Collaboration Agreement. On the other hand, Marinus Pharmaceuticals will make a payment of €1,500,000 to Orion within ten business days of various occurrences, including the closing of a transaction transferring the Company’s assets related to a biopharmaceutical product incorporating ganaxolone or a change of control by June 30, 2025.

It’s noteworthy that the details provided are not exhaustive, and interested parties are referred to the complete Termination Agreement filed as Exhibit 10.1 to the Form 8-K submitted by Marinus Pharmaceuticals to the Securities and Exchange Commission.

The termination of the Collaboration Agreement with Orion Corporation marks a significant development in Marinus Pharmaceuticals’ strategic direction and partnerships in the pharmaceutical industry.

This Form 8-K filing affirms the commitment of Marinus Pharmaceuticals to navigate its strategic alliances effectively and explore new avenues for growth in the biopharmaceutical sector.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Marinus Pharmaceuticals’s 8K filing here.

About Marinus Pharmaceuticals

Marinus Pharmaceuticals, Inc, a pharmaceutical company, focuses on development and commercialization of therapeutic products for patients suffering from rare genetic epilepsies and other seizure disorders. It offers ZTALMY (ganaxolone), an oral suspension for the treatment of seizures associated with cyclin-dependent kinase-like 5 deficiency disorder for adult and pediatric patient populations in acute and chronic care, and in-patient and self-administered settings.