Xention, a Cambridge-based biopharmaceutical company specializing in discovery and development of ion channel-modulating drugs for atrial fibrillation (AF), and Servier, an independent French pharmaceutical company, have entered  a multi-year agreement for  development and commercialization of XEN-D0103, a selective Kv1.5 modulator discovered and developed by Xention for the treatment of AF.

Servier has received an option to acquire intellectual property rights and to further develop and commercialize XEN-D0103 in all territories except the U.S. and Japan.  All rights in the U.S. and Japan will be retained by Xention.

The clinical development of XEN-D0103 will include two phase II clinical studies aimed at demonstrating the efficacy of XEN-D0103 in reducing AF burden in paroxysmal AF. In addition to an upfront fee, Servier will pay an option fee and milestones totalling $162.5 million. Servier will be responsible for further clinical development and commercialization of XEN-D0103 within its territories.

XEN-D0103 is a selective blocker of Kv1.5, a potassium channel expressed in the atria, which has been shown to be safe and well-tolerated in phase I clinical development.