Collaboration aims to quickly enable ulixacaltamide to be delivered via active transdermal route

        Potential to expand the addressable market for ulixacaltamide beyond the initial patient population and to enable additional life-cycle management opportunities

        Praxis to make equity investment in Remagine Labs, accelerating the companies' collaboration

BOSTON, Mass. and AUSTIN, Texas, July 07, 2026 (GLOBE NEWSWIRE) -- Praxis Precision Medicines, Inc. (NASDAQ:PRAX), a fully integrated central nervous system (CNS) precision neuroscience biopharmaceutical company, and Remagine Labs, Inc., a developer of electronically controlled transdermal drug delivery systems, today announced a research collaboration and license agreement to develop an iontophoretic transdermal patch for the delivery of ulixacaltamide, Praxis's highly selective T-type calcium channel inhibitor in development for essential tremor (ET).

Ulixacaltamide is Praxis's lead asset in ET and the most clinically advanced therapy in the field. The FDA accepted the ulixacaltamide New Drug Application (NDA) for ET in April 2026 and has set a Prescription Drug User Fee Act (PDUFA) target action date of January 29, 2027. Ulixacaltamide received Breakthrough Therapy Designation in December 2025 on the strength of the Essential3 Phase 3 program.

ET affects approximately seven million people in the United States, with very limited therapeutic options and no drug specifically developed for ET, representing a large, underserved, multi-billion-dollar opportunity.

Under the agreement, Praxis and Remagine will collaborate to apply Remagine's proprietary platform, designed for precise, multi-day active transdermal dosing, to ulixacaltamide, complementing Praxis's lead oral program. A transdermal option is intended to broaden the population ulixacaltamide can reach, while strengthening ulixacaltamide's competitive positioning and extending the long-term value of the franchise. Praxis has also made an equity investment in Remagine Labs, underscoring the companies' shared commitment to quickly advancing the program.