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news.Winston Laboratories, a wholly owned subsidiary of Getting Ready, has entered into a licensing agreement with Sanofi-Aventis Canada for the Canadian rights to Winston's proprietary transient receptor potential vanilloid modulator in formulations for topical application.
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Under the terms of the agreement, Sanofi-Aventis Canada owns the rights to develop, manufacture and commercialize civamide cream in Canada along with a second generation cream that is currently in development.
In return for granting Sanofi-Aventis Canada the Canadian rights, Winston will receive an upfront payment, a milestone payment subject to regulatory approval of civamide cream in Canada plus royalties and milestones on net sales in Canada.
Previously, Winston filed a new drug submission in Canada, for the first product it has developed under its technology, Civanex Cream (civamide 0.075%) for the treatment of signs and symptoms of osteoarthritis.
Joel Bernstein, president & CEO of Winston, said: “The license agreement with Sanofi-Aventis Canada marks an important milestone in the growth and development of our company. We believe this is a first step in the eventual development of Winston as a leader in the world’s pain-control market. We are very pleased to have a company as strong as Sanofi-Aventis Canada as our partner in this endeavour.”