14th May 2021 12:29
(Alliance News) - Faron Pharmaceuticals Oy on Friday said it has signed a sub-license agreement for the rights to a US patent, covering Traumakine, which currently extends to 2033.
The Turku, Finland-based drug discovery and development company said the agreement clarifies Faron's intellectual property position in the US ahead of launch of Traumakine, which is intended to be used for the treatment of capillary leak and systemic inflammatory response syndromes.
Faron said it will pay a small signing-fee, as well as single-digit standard market royalties from future sales of its intravenous Traumakine in the US.
This sub-licence specifically covers a manufacturing patent valid only in the US, the company explained.
"We continue to believe in Traumakine's potential as a much-needed new treatment for respiratory failure and organ protection," said Chief Executive Markku Jalkanen.
Faron Pharmaceuticals shares were trading 0.2% lower in London on Friday at 332.00 pence each.
By Evelina Grecenko; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Faron Pharmaceuticals