Istaroxime was identified, patented and developed up to phase I by Italian pharmaceutical company Sigma-Tau. Under the terms of the agreement, Debiopharm has the right to develop and commercialize istaroxime worldwide except in Italy and has an option to acquire similar rights on istaroxime follow-on compounds.
Debiopharm will pay an upfront license fee and milestones to Sigma-Tau and will fund the future clinical development costs for the compound.
Upon Debiopharm’s completion of the phase II clinical development program, Sigma-Tau may exercise its semi-exclusive rights to market istaroxime in Spain and France and exclusive rights in Portugal.
Royalties will accrue to both Debiopharm and Sigma-Tau according to a specific contractual mechanism.
“Istaroxime is just the type of molecule that Debiopharm favours; a promising innovative product in a disease area with an unmet need. Together with Sigma-Tau, I am hopeful that we will very quickly be able to offer patients a unique, more targeted new treatment for systolic and diastolic dysfunction,” said Rolland-Yves Mauvernay, president and CEO of The Debiopharm Group.