Edition:
United Kingdom

Strongbridge Announces Acquisition Of U.S., Canadian Rights To Macrilen From Aeterna Zentaris


Wednesday, 17 Jan 2018 

Jan 17 (Reuters) - Strongbridge Biopharma Plc ::STRONGBRIDGE BIOPHARMA PLC ANNOUNCES ACQUISITION OF THE U.S. AND CANADIAN RIGHTS TO MACRILEN™ (MACIMORELIN) FROM AETERNA ZENTARIS.STRONGBRIDGE BIOPHARMA - ‍UNDER TERMS OF AGREEMENT, CO TO MAKE UPFRONT PAYMENT OF $24 MILLION TO AETERNA WITHIN 5 DAYS OF EFFECTIVE DATE OF AGREEMENT​.STRONGBRIDGE BIOPHARMA - LICENSE & ASSIGNMENT AGREEMENT ALSO PROVIDES CO WITH EXCLUSIVE LICENSE TO MANUFACTURE & COMMERCIALIZE MACRILEN IN U.S. & CANADA.STRONGBRIDGE BIOPHARMA PLC - STRONGBRIDGE EXPECTS TO COMMERCIALLY LAUNCH MACRILEN IN MID-YEAR 2018.STRONGBRIDGE BIOPHARMA PLC - ‍EXPANDS STRUCTURED FINANCING FACILITY WITH CRG TO SUPPORT ANTICIPATED COMMERCIAL LAUNCH OF MACRILEN IN MID-2018​.STRONGBRIDGE BIOPHARMA - AETERNA ZENTARIS WILL REMAIN RESPONSIBLE FOR A PEDIATRIC DEVELOPMENT PROGRAM TO SUPPORT REGULATORY SUBMISSION FOR MACRILEN APPROVAL.STRONGBRIDGE - ‍IN CONJUNCTION WITH MACRILEN DEAL, CO, CRG AMENDED EXISTING SENIOR CREDIT FACILITY TO INCREASE TOTAL POTENTIAL BORROWING TO $100 MILLION​.STRONGBRIDGE BIOPHARMA-CO SHARING OVERSIGHT AND PAYING FOR 70 PERCENT OF COST OF PEDIATRIC DEVELOPMENT PROGRAM OR ABOUT $4 MILLION OVER A 3-YEAR PERIOD​.STRONGBRIDGE - ‍UNDER AMENDED FACILITY, CO RETAINED OPTION TO BORROW ADDITIONAL $10 MILLION BASED UPON SOME CONDITIONS​.STRONGBRIDGE - ‍INTENDS TO USE UPFRONT PROCEEDS FROM SECOND BORROWING TO FUND ACQUISITON, COMMERCIALIZATION OF MACRILEN, CORPORATE PURPOSES​.