Anika and Galderma terminate licensing agreement for Elevess brand

Elevess is the first injectable soft-tissue filler for facial wrinkles, scar remediation and lip augmentation to incorporate lidocaine, a local anesthetic designed to improve patient comfort.

Under the termination agreement, Anika will re-acquire the worldwide control of the future development and marketing of Elevess. Anika will pay Galderma Pharma and Galderma $4.25 million for the worldwide rights and ownership of the Elevess trademark, and all related packaging, marketing and promotional materials, as well as the clinical studies, marketing research and training materials developed by Galderma.

Charles Sherwood, Anika’s president and CEO, said: “With an enhanced product that now is approved in the US, the European Union and Canada, we would like to launch the product as soon as possible in 2008 with a new partner or initially on our own. There already has been considerable interest expressed by new potential partners, which we are pursuing. In the meantime, Anika-sponsored pre-launch activities continue, including reaching out to opinion leaders.”

The agreement is subject to certain closing conditions and is expected to close before the end of November.