Lipidor AB licence agreement grants Menarini Group company, RELIFE Srl, exclusive rights to register, promote, distribute and market two new psoriasis drug candidates for potential value of MEUR 70
STOCKHOLM, Sweden, July 1, 2021 /PRNewswire/ -- Lipidor AB (publ) (Nasdaq First North Growth Market: LIPI) announced today that it has signed a licence agreement under which Lipidor grants RELIFE S.r.l., part of leading international pharmaceutical company, Menarini Group, exclusive rights to register, promote, distribute, and market drug candidates for the treatment of psoriasis in EU, Turkey, UK, Switzerland, CIS, and Balkan countries. The total potential value of this agreement is up to MEUR 70.
Under the terms of this agreement, RELIFE S.r.l., a clinical dermatology therapeutics and aesthetic medicine company, shall register, promote, distribute and market Lipidor's drug candidates for the treatment of psoriasis in EU, Turkey, UK, Switzerland, CIS, and Balkan countries whilst Lipidor will be eligible to receive milestone payments of up to MEUR 19 and a volume-based royalty plan leading up to teens digit values on sales.
Lipidor and RELIFE S.r.l. shall collaborate to make the two topical drug candidates available for the treatment of mild to moderate psoriasis. Positive results from the Phase III study of one drug candidate, based exclusively on calcipotriol, have demonstrated that Lipidor's AKVANO® technology works well in the treatment of psoriasis. The preclinical studies carried out by Lipidor also show that betamethasone works well with AKVANO®, a positive requirement for the second drug candidate which combines calcipotriol and betamethasone. Results from the Phase III study of this second candidate, currently in its initial stages, are expected for the first half of 2022.
Lipidor's partner Aurena Laboratories, one of the company's two large industrial owners, will be responsible for the commercial production of the products.
"We are proud to announce that we have signed this exclusive licence agreement with RELIFE S.r.l. The Menarini Group has a strong European and global presence, and this agreement marks a step forward for Lipidor. We are looking forward to working with RELIFE and to being able to make these new candidate drugs available to psoriasis patients in the hope that they may improve the treatment of their condition," commented Ola Holmlund, CEO of Lipidor.
"We consider this licence agreement with Menarini Group as an acknowledgement of just how committed staff and founders of Lipidor are. We hope that it shall put our company in a position whereby our proprietary and patented drug delivery AKVANO® technology may receive an even greater and stronger form of commercial validation. This agreement encourages us to bolster our efforts to create added value for our shareholders based on the AKVANO® platform through regional licensing deals for these drug candidates, and through additional innovative projects already in our pipeline," stated Fredrik Sjövall, Chairman of the Board of Lipidor.
"We are pleased to undertake this agreement with Lipidor, a company with experience in drug formulation within the field of dermatology and psoriasis, and we are confident that the longstanding experience of Menarini Group as a trustworthy, reliable and strategic partner shall facilitate a successful product launch in the future and make the two new candidate drugs available to physicians and dermatologists for the benefit of those psoriasis patients who have to manage their condition on a daily basis," commented by Mr. Attilio Di Gaudio, Global Operations Director of RELIFE S.r.l., a Menarini Group company.
This disclosure contains information that Lipidor is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 01-07-2021 21:05 CET.
For more information, please contact
Ola Holmlund, CEO
Erik Penser Bank AB
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Company Codes: ISIN:SE0012558617, Stockholm:LIPI