23rd Dec 2015 08:10
LONDON (Alliance News) - Skyepharma PLC said Wednesday it has entered a feasibility and option agreement with Mundipharma Laboratories GmbH for its SKP-2076 product, under which it will be responsible for some feasibility work, planned to be completed in the second quarter of 2016.
Skyepharma said the deal is expected to lead to Mundipharma's network of independent associated companies becoming the global development and commercialisation partner for SKP-2076, an inhaled therapy product for a major respiratory disease.
Under the agreement Mundipharma has the option, exercisable until shortly after completion of the feasibility work, to complete the development of and commercialise SKP-2076 under exclusive global development and licence agreements.
A non refundable fee of several hundred thousand euros is receivable shortly by Skyepharma, the company said.
"This new partnership further expands our excellent relationship with Mundipharma based on our successful collaboration on flutiform, which is growing well in multiple markets," said Chief Executive Officer Peter Grant in a statement.
"SKP-2076 is a great example of innovation at Skyepharma, leveraging our expertise and strong relationships with partners to generate benefits for patients and value for shareholders," Grant added.
Shares in Skyepharma were up 1.4% 369.65 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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