According to the terms of the agreement, effective July 1, 2008, all future royalty and a potential milestone payment related to Fenoglide in North America due to LifeCycle Pharma (LCP) from Sciele Pharma shall now be made to Cowen Healthcare Royalty Partners (CHRP). LCP remains obligated under this agreement to prosecute certain patent rights related to Fenoglide.
Fenoglide is the lowest dose of fenofibrate products currently marketed in the US and is available in 40mg and 120mg tablets. Fenoglide utilizes LCP’s proprietary MeltDose Technology, a clinically validated reformulation technology, designed to provide improved absorption and bioavailability of the drug. Fenoglide was launched in the US in February 2008 and is marketed by Sciele Pharma.
Hans Teisen, executive vice president and CFO of LCP, said: “The sale of the royalty stream provides LCP with solid financial resources to continue our own development of our promising pipeline and it is a significant step towards our strategy of becoming a fully integrated specialty pharmaceutical company within the transplantation field.”