Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.EffRx, a drug delivery company, and Nycomed, a specialty pharmaceutical company, have signed a licensing deal for EffRx's proprietary drug EX101, for the treatment of osteoporosis.
Subscribe to our email newsletter
Under the terms of the agreement, EffRx will receive from Nycomed upfront and milestone payments up to $59 million. EffRx will in addition be granted double-digit royalties on future sales of EX101. Nycomed will also sponsor the necessary additional studies required for marketing approval. The licensing deal includes Europe, Russia, the Middle East, North Africa, Latin America and Canada.
EX101 is currently in late-stage clinical trials. Final approval and launch in the US is expected in 2010 while European approval could be slightly later.
Christer Rosen, chairman and CEO of EffRx, said: “We are really pleased with this collaboration with Nycomed. EffRx will have an excellent partner that already knows the marketplace in their territory and has the capabilities to market and sell this important drug along side its other products in the osteoporosis area. EX101 offers several benefits for the osteoporosis patient, who will get a more convenient drug compared to other bisphosphonates and with strong potential to increase compliance which is a well-known problem with existing treatments.”