---
title: "Cyclerion Therapeutics Signs Collaboration and Option Agreement With Medsteer"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/271659522.md"
description: "Cyclerion Therapeutics has signed a Collaboration and Option Agreement with Medsteer to co-develop an anesthetic delivery system and secure an exclusive licensing option. The agreement grants Cyclerion a non-exclusive, royalty-free development license and an exclusive option for a worldwide, royalty-bearing license. Medsteer will receive an upfront payment, milestone payments up to $3.7 million, and royalties on net sales. The collaboration will last for up to 2 years, with the possibility of extension, and includes joint ownership of collaboration know-how."
datetime: "2026-01-06T13:43:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/271659522.md)
  - [en](https://longbridge.com/en/news/271659522.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/271659522.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/271659522.md) | [繁體中文](https://longbridge.com/zh-HK/news/271659522.md)


# Cyclerion Therapeutics Signs Collaboration and Option Agreement With Medsteer

Cyclerion Therapeutics entered into a Collaboration and Option Agreement with Medsteer to co-develop an anesthetic delivery system and secure an exclusive licensing option for future commercialization in defined fields. The deal provides Cyclerion a non-exclusive, royalty-free development license and an exclusive option to obtain a worldwide, royalty-bearing license. Medsteer will receive a nominal upfront payment, an option exercise payment, up to $3.7 million in milestones, and low single-digit royalties on net sales; Cyclerion will also pay development fees. The parties will jointly own collaboration know-how, and Cyclerion has a right of first negotiation for related third-party transactions.

**Agreement details:**

-   **Agreement type**: Collaboration and Option Agreement for anesthetic delivery system and licensing option
-   **Counterparty**: Medsteer
-   **Signed / Effective**: Jan 03 2026 / same
-   **Duration / Termination**: Option period up to 2 years, extendable 2 more; term until payment obligations expire
-   **Reason**: Co-develop anesthetic delivery system and secure exclusive licensing option

Original SEC Filing: Cyclerion Therapeutics, Inc. \[ CYCN \] - 8-K - Jan. 06, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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