Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 32 n° 302

Almirall and Dermira Enter into Option and License Agreement for European Rights to Lebrikizumab

Posted by fidest press agency su giovedì, 14 febbraio 2019

Almirall, S.A. (ALM) and Dermira, Inc. (NASDAQ: DERM) announced today that the companies have entered into an option and license agreement under which Almirall has acquired an option to exclusively license rights to develop and commercialize lebrikizumab for the treatment of atopic dermatitis and certain other indications in Europe. In exchange, Dermira will receive an upfront option fee of $30 MM. If Almirall exercises its option to obtain the license following the results of the ongoing Phase 2b study, Dermira will receive a $50 MM option exercise fee and will be eligible to receive additional development, regulatory and sales milestone payments, as well as double-digit royalties.
Under the terms of the agreement, Almirall will make an initial payment of $30 MM to Dermira in exchange for an option to acquire an exclusive license to develop lebrikizumab in dermatology indications and commercialize lebrikizumab in all indications in Europe. Following the availability of topline data from Dermira’s ongoing Phase 2b clinical study of lebrikizumab in moderate-to-severe atopic dermatitis, Dermira will provide to Almirall a data package consisting of topline and additional data, after which Almirall will have 45 days to exercise its option. If Almirall elects to exercise its option, the company will pay Dermira an option exercise fee of $50 MM.If Almirall exercises its option, Almirall will be obligated to make additional payments to Dermira upon the achievement of certain milestones, including $30 MM in connection with the initiation of certain Phase 3 clinical studies and up to $85 MM upon the achievement of regulatory milestones and the first commercial sale of lebrikizumab in Europe. In addition, Dermira will be entitled to receive milestone payments upon the achievement of certain thresholds for net sales of lebrikizumab in Europe, as well as royalty payments representing percentages of net sales that range from the low double-digits to the low twenties.“At Almirall, we continue to deepen in our commitment to dermatology,” said Peter Guenter, Chief Executive Officer of Almirall. “Atopic dermatitis is a condition that affects millions of people living in Europe, and we are pleased to support the development and commercialization of lebrikizumab, a differentiated treatment that we believe could become a best-in-disease therapy for these patients. We are excited to be collaborating with Dermira and look forward to positive results from the Phase 2b study and subsequently moving into registrational studies.”


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