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United Kingdom

Almirall And Athenex Announces Partnership For Treatment Of Actinic Keratosis


Monday, 11 Dec 2017 

Dec 11 (Reuters) - Almirall SA ::ALMIRALL AND ATHENEX ANNOUNCE STRATEGIC PARTNERSHIP FOR THE TREATMENT OF ACTINIC KERATOSIS.ALMIRALL SA - CO AND ATHENEX HAVE ENTERED INTO A PARTNERSHIP TO DEVELOP AND COMMERCIALIZE KX2-391 IN UNITED STATES AND EUROPE.ALMIRALL - ATHENEX WILL GRANT EXCLUSIVE LICENSE TO ALMIRALL TO RESEARCH, COMMERCIALIZE KX2-391 IN THE U.S., EUROPEAN COUNTRIES, INCLUDING RUSSIA.ALMIRALL SA - UNDER TERMS OF PARTNERSHIP AGREEMENT, ATHENEX WILL RECEIVE AN UP-FRONT FEE AND NEAR-TERM PAYMENTS OF UP TO $55 MILLION.ALMIRALL SA - ATHENEX WILL BE ELIGIBLE TO RECEIVE LAUNCH AND ADDITIONAL INDICATIONS MILESTONES FOR $65 MILLION.ALMIRALL SA - DEAL INCLUDES SALES PERFORMANCE MILESTONES OF KX2-391 ESTIMATED TO BE $155 MILLION.ALMIRALL - THERE WILL BE TIERED ROYALTIES STARTING AT 15% BASED ON ANNUAL NET SALES, WITH INCREMENTAL INCREASES IN ROYALTY RATES WITH INCREASED SALES.ALMIRALL SA - ATHENEX WILL BE RESPONSIBLE FOR CONDUCTING ALL PRECLINICAL AND CLINICAL STUDIES UP TO U.S. FDA APPROVAL. 

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