12th Oct 2015 09:40
LONDON (Alliance News) - Quantum Pharma PLC on Monday said that subsidiary Colonis Pharma Ltd has signed an out-licensing agreement with a major German pharmaceutical company for its first licensed product.
The product is a cholecalciferol 20 000IU capsule, marketed in the UK under the brand name Aviticol. The produt is used to treat and prevent vitamin D deficiency in adults and adolescents.
Colonis has granted its German partner an exclusive licence to use Colonis's dossier for the product. That will enable it to obtain marketing authorisation in Germany.
Upon being granted German marketing authorisation, the partner also receives the exclusive right to commercialise, manufacture, promote, sell and distribute the product in the country.
Milestone payments from this out-licensing transaction will amount to EUR1.5 million, Quantum Pharma said, with royalty payments payable by the German partner on sales of the production in Germany for the next five years.
"This is a significant out-licence into a major healthcare market which provides a base for further out-licences and product launches. We continue to explore out-licensing opportunities for Aviticol in a number of other territories. Given that we have a further 70 or so products in our current development portfolio at Colonis, you can see the potential for, and exciting nature of, this part of our business model," Chief Executive Andrew Scaife said in a statement.
Shares in Quantum Pharma were up 2.0% at 127.00 pence on Monday morning.
By Samuel Agini; [email protected]; @samuelagini
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